Reliant Investment Management LLC Purchases 71 Shares of Netflix, Inc. (NASDAQ:NFLX)

Reliant Investment Management LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,384 shares of the Internet television network’s stock after purchasing an additional 71 shares during the quarter. Netflix comprises 3.1% of Reliant Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. Reliant Investment Management LLC’s holdings in Netflix were worth $5,953,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the 4th quarter worth about $27,000. Transce3nd LLC bought a new position in Netflix in the 4th quarter worth about $32,000. Pineridge Advisors LLC raised its holdings in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares in the last quarter. Finally, Copia Wealth Management bought a new stake in shares of Netflix during the 4th quarter valued at about $37,000. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at $3,402,068.52. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,390 shares of company stock worth $170,509,439 over the last quarter. Corporate insiders own 1.37% of the company’s stock.

Netflix Stock Down 0.7%

Shares of NASDAQ:NFLX opened at $1,241.47 on Friday. The stock’s 50-day moving average is $1,087.80 and its 200 day moving average is $987.81. The company has a market cap of $528.33 billion, a PE ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the firm earned $8.28 earnings per share. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NFLX shares. Wells Fargo & Company upped their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Robert W. Baird boosted their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Pivotal Research raised their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Morgan Stanley lifted their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, Rosenblatt Securities increased their target price on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,149.91.

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.