Lazard Asset Management LLC Acquires 33,269 Shares of Netflix, Inc. (NASDAQ:NFLX)

Lazard Asset Management LLC grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 128,449 shares of the Internet television network’s stock after acquiring an additional 33,269 shares during the quarter. Lazard Asset Management LLC’s holdings in Netflix were worth $78,010,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NFLX. Obermeyer Wood Investment Counsel Lllp lifted its position in Netflix by 2.8% during the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares during the period. Private Portfolio Partners LLC lifted its position in Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares during the period. KFA Private Wealth Group LLC lifted its position in Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares during the period. Legacy Capital Group California Inc. lifted its position in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after purchasing an additional 18 shares during the period. Finally, Founders Financial Alliance LLC lifted its position in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.4 %

Netflix stock traded down $2.72 during mid-day trading on Friday, hitting $631.37. 3,120,659 shares of the stock were exchanged, compared to its average volume of 3,608,843. The stock has a market capitalization of $270.97 billion, a price-to-earnings ratio of 43.81, a PEG ratio of 1.29 and a beta of 1.27. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $697.49. The company has a quick ratio of 1.07, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $658.05 and its two-hundred day simple moving average is $609.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.29 EPS. Analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NFLX shares. Canaccord Genuity Group reaffirmed a “hold” rating and set a $585.00 price objective (down previously from $720.00) on shares of Netflix in a research report on Friday, April 19th. Redburn Atlantic upped their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Company boosted their target price on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Loop Capital boosted their target price on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Sanford C. Bernstein boosted their target price on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $681.21.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 268 shares of Netflix stock in a transaction on 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 sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Netflix news, insider David A. Hyman sold 268 shares of Netflix 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 transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. Insiders sold a total of 71,385 shares of company stock valued at $44,469,351 in the last quarter. 1.76% of the stock is currently owned by company insiders.

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.