Charter Oak Capital Management LLC Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Charter Oak Capital Management LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316 shares of the Internet television network’s stock after buying an additional 34 shares during the period. Charter Oak Capital Management LLC’s holdings in Netflix were worth $295,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in shares of Netflix by 8.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock valued at $1,227,468,000 after purchasing an additional 110,432 shares during the last quarter. PharVision Advisers LLC purchased a new stake in Netflix during the 4th quarter worth $873,000. First National Trust Co increased its stake in Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after buying an additional 12 shares during the period. Haven Private LLC purchased a new stake in Netflix during the 4th quarter worth $733,000. Finally, Sigma Planning Corp increased its position in shares of Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,390 shares of company stock valued at $170,509,439. 1.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of recent research reports. KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Rosenblatt Securities boosted their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $1,200.00 price target (up from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. Citigroup reaffirmed a “neutral” rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Morgan Stanley increased their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,149.91.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,241.47 on Friday. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The company’s 50-day moving average is $1,087.80 and its 200 day moving average is $988.53. The company has a market capitalization of $528.33 billion, a P/E ratio of 62.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the prior year, the business posted $8.28 earnings per share. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.