Farther Finance Advisors LLC Acquires 1,415 Shares of Netflix, Inc. (NASDAQ:NFLX)

Farther Finance Advisors LLC increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 32.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,761 shares of the Internet television network’s stock after purchasing an additional 1,415 shares during the period. Farther Finance Advisors LLC’s holdings in Netflix were worth $5,349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after purchasing an additional 171,712 shares in the last quarter. FMR LLC boosted its stake in shares of Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after purchasing an additional 375,234 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after purchasing an additional 175,596 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Finally, Norges Bank acquired a new stake in Netflix in the fourth quarter valued at approximately $5,019,087,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Down 1.4%

Shares of Netflix stock opened at $1,224.46 on Tuesday. The company has a market cap of $521.09 billion, a P/E ratio of 61.75, a PEG 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, Inc. has a one year low of $587.04 and a one year high of $1,262.81. The firm has a fifty day moving average of $1,093.58 and a two-hundred day moving average of $991.46.

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

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Cfra Research upgraded shares of Netflix to a “strong-buy” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $1,220.00 target price (up from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. FBN Securities initiated coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price for the company. Robert W. Baird raised their target price on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, Canaccord Genuity Group raised their target price on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Eleven investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,149.91.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director now owns 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the 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. In the last quarter, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is owned by 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.