New England Research & Management Inc. Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

New England Research & Management Inc. raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 148.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,122 shares of the Internet television network’s stock after acquiring an additional 1,268 shares during the period. Netflix accounts for approximately 1.0% of New England Research & Management Inc.’s portfolio, making the stock its 28th largest position. New England Research & Management Inc.’s holdings in Netflix were worth $1,979,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. West Michigan Advisors LLC increased its holdings in shares of Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. increased its stake in Netflix by 3.5% in the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after buying an additional 10 shares during the period. MRP Capital Investments LLC boosted its stake in shares of Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its stake in shares of Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after acquiring an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. raised its holdings in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after acquiring an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NFLX. Wells Fargo & Company boosted their target price on Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. UBS Group increased their target price on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Oppenheimer raised their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research note on Thursday. Loop Capital reiterated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Finally, Pivotal Research raised their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock 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 company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,156.73.

Netflix Trading Down 0.2%

Shares of NFLX stock opened at $1,212.15 on Friday. The company has a market capitalization of $515.86 billion, a P/E ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $1,120.37 and a 200 day moving average price of $999.25.

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 analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the previous year, the company posted $8.28 earnings per share. Research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,140 shares of company stock worth $210,271,552. Insiders own 1.37% of the company’s stock.

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.