Convergence Financial LLC Has $302,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Convergence Financial LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 8.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 324 shares of the Internet television network’s stock after acquiring an additional 25 shares during the quarter. Convergence Financial LLC’s holdings in Netflix were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after buying an additional 144 shares during the last quarter. Sherman Asset Management Inc. purchased a new stake in Netflix in the 4th quarter valued at about $222,000. Duncker Streett & Co. Inc. lifted its position in shares of Netflix by 11.7% during the 4th quarter. Duncker Streett & Co. Inc. now owns 1,251 shares of the Internet television network’s stock worth $1,115,000 after buying an additional 131 shares in the last quarter. Finally, Mitchell Capital Management Co. purchased a new position in shares of Netflix in the 4th quarter worth approximately $314,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the stock an “outperform” rating in a research report on Friday, May 16th. Robert W. Baird raised their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Barclays lifted their target price on Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,172.73.

Netflix Trading Up 1.3%

Netflix stock opened at $1,323.12 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,331.35. The stock has a market cap of $563.08 billion, a P/E ratio of 62.53, a PEG ratio of 2.56 and a beta of 1.59. The firm’s fifty day moving average price is $1,183.25 and its 200-day moving average price is $1,024.87.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the previous year, the business earned $8.28 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, insider Cletus R. Willems sold 298 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $35,972,180. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,280 shares of company stock valued at $210,599,866 over the last three months. 1.37% of the stock is owned by corporate insiders.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.