Quent Capital LLC Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Quent Capital LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.9% in the first quarter, HoldingsChannel.com reports. The firm owned 2,337 shares of the Internet television network’s stock after buying an additional 88 shares during the quarter. Quent Capital LLC’s holdings in Netflix were worth $2,179,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Netflix by 0.5% during 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 period. FMR LLC boosted its stake 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 valued at $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC boosted its stake 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 valued at $8,287,823,000 after purchasing an additional 175,596 shares during the period. Norges Bank purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $5,019,087,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Netflix by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock valued at $4,582,568,000 after purchasing an additional 82,564 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20. Following the transaction, the chairman now owns 394 shares of the company’s stock, valued at $386,876.48. The trade was a 98.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,348 shares of company stock worth $139,087,908 over the last three months. 1.37% of the stock is currently owned by corporate insiders.

Netflix Price Performance

NFLX opened at $1,184.86 on Friday. The stock has a fifty day simple moving average of $1,055.18 and a two-hundred day simple moving average of $971.66. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $504.24 billion, a price-to-earnings ratio of 59.75, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,215.91.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the company earned $8.28 earnings per share. Research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of analyst reports. KeyCorp increased their price objective on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Evercore ISI reissued an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Benchmark reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Robert W. Baird raised their price target on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Finally, Morgan Stanley raised their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,112.79.

About Netflix

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.