Netflix, Inc. (NASDAQ:NFLX) Stock Position Lifted by Thrive Wealth Management LLC

Thrive Wealth Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 571 shares of the Internet television network’s stock after purchasing an additional 26 shares during the quarter. Thrive Wealth Management LLC’s holdings in Netflix were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Capital World Investors boosted its holdings in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares in the last quarter. Jennison Associates LLC boosted its stake in Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Norges Bank acquired a new position in shares of Netflix during the 4th quarter valued at $2,558,598,000. Fisher Asset Management LLC raised its stake in shares of Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after buying an additional 78,298 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after buying an additional 3,273,592 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NFLX shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $655.00 target price on shares of Netflix in a report on Wednesday, May 15th. Macquarie boosted their target price on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Bank of America raised their target price on shares of Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Evercore ISI upped their price target on Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $633.53.

Netflix Stock Up 1.0 %

Netflix stock traded up $6.65 during mid-day trading on Thursday, hitting $684.34. 2,402,060 shares of the company’s stock were exchanged, compared to its average volume of 3,996,718. The stock has a market cap of $294.95 billion, a P/E ratio of 47.29, a P/E/G ratio of 1.45 and a beta of 1.26. The stock has a 50 day moving average of $625.06 and a two-hundred day moving average of $581.29. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $689.88. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the company earned $2.88 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Anne M. Sweeney sold 3,029 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $580.00, for a total transaction of $1,756,820.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. In the last three months, insiders sold 69,425 shares of company stock valued at $41,919,791. Company insiders own 1.76% of the company’s stock.

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.