Wright Investors Service Inc. Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Wright Investors Service Inc. raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,232 shares of the Internet television network’s stock after acquiring an additional 267 shares during the period. Netflix makes up 1.0% of Wright Investors Service Inc.’s investment portfolio, making the stock its 29th largest position. Wright Investors Service Inc.’s holdings in Netflix were worth $3,014,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NFLX. GAMMA Investing LLC raised its holdings in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Norges Bank purchased a new position in shares of Netflix during the 4th quarter valued at about $5,019,087,000. Proficio Capital Partners LLC raised its holdings in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after buying an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after buying an additional 856,307 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after buying an additional 743,724 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the sale, the director now directly owns 79,040 shares of the company’s stock, valued at $87,099,708.80. This represents a 29.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 640 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,194.77, for a total transaction of $764,652.80. The disclosure for this sale can be found here. Insiders have sold 133,348 shares of company stock valued at $139,087,908 in the last three months. 1.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NFLX. Wall Street Zen cut Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Moffett Nathanson reiterated a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Loop Capital restated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Macquarie lifted their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Finally, UBS Group lowered their price target on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,122.33.

Netflix Stock Up 1.5%

Shares of NASDAQ NFLX opened at $1,202.12 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,215.91. The firm has a market capitalization of $511.59 billion, a PE ratio of 60.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The firm has a fifty day simple moving average of $1,059.27 and a two-hundred day simple moving average of $975.30.

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

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.