Smith Group Asset Management LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Smith Group Asset Management LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 620 shares of the Internet television network’s stock, valued at approximately $377,000.

Other institutional investors have also recently made changes to their positions in the company. Diversify Advisory Services LLC purchased a new position in Netflix in the first quarter worth about $3,083,000. SeaBridge Investment Advisors LLC grew its position in Netflix by 10.1% in the first quarter. SeaBridge Investment Advisors LLC now owns 4,983 shares of the Internet television network’s stock worth $3,026,000 after acquiring an additional 457 shares in the last quarter. North Star Investment Management Corp. grew its position in Netflix by 3.3% in the first quarter. North Star Investment Management Corp. now owns 1,626 shares of the Internet television network’s stock worth $988,000 after acquiring an additional 52 shares in the last quarter. Norden Group LLC grew its position in Netflix by 19.3% in the first quarter. Norden Group LLC now owns 8,616 shares of the Internet television network’s stock worth $5,233,000 after acquiring an additional 1,394 shares in the last quarter. Finally, HB Wealth Management LLC grew its position in Netflix by 12.4% in the first quarter. HB Wealth Management LLC now owns 10,492 shares of the Internet television network’s stock worth $6,372,000 after acquiring an additional 1,154 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NFLX. Jefferies Financial Group reiterated a “buy” rating and issued a $655.00 price target on shares of Netflix in a research report on Wednesday, May 15th. Canaccord Genuity Group reissued a “hold” rating and issued a $585.00 price objective (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Oppenheimer reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. Loop Capital raised their price objective on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $713.00 price objective (up previously from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $637.34.

Insider Activity

In related news, insider David A. Hyman sold 268 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $18,764,328.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The disclosure for this sale can be found here. Insiders have sold 71,385 shares of company stock valued at $44,469,351 over the last ninety days. 1.76% of the stock is currently owned by insiders.

Netflix Stock Up 1.2 %

NASDAQ NFLX traded up $8.14 on Friday, hitting $690.65. The stock had a trading volume of 2,659,065 shares, compared to its average volume of 2,490,949. The business’s fifty day moving average price is $640.84 and its 200 day moving average price is $590.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $697.49. The stock has a market cap of $297.67 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current 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.