Leavell Investment Management Inc. Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Leavell Investment Management Inc. raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 668 shares of the Internet television network’s stock after purchasing an additional 10 shares during the period. Leavell Investment Management Inc.’s holdings in Netflix were worth $623,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. FMR LLC grew its position in shares of Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Netflix during the fourth quarter worth approximately $5,019,087,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $1,200.00 target price on shares of Netflix in a research report on Monday, May 5th. Pivotal Research restated a “buy” rating on shares of Netflix in a research report on Thursday. UBS Group raised their target price on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Canaccord Genuity Group restated a “buy” rating on shares of Netflix in a research report on Thursday. Finally, Moffett Nathanson restated a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,214.52.

Insider Activity

In related news, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director owned 394 shares of the company’s stock, valued at approximately $523,669.34. This represents a 96.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 in the last quarter. Corporate insiders own 1.37% of the company’s stock.

Netflix Trading Down 0.4%

NASDAQ:NFLX opened at $1,245.11 on Friday. The company has a market capitalization of $529.88 billion, a PE ratio of 58.84, a price-to-earnings-growth ratio of 2.27 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The stock has a fifty day simple moving average of $1,221.70 and a 200-day simple moving average of $1,049.04.

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

Netflix 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.