Smithbridge Asset Management Inc. DE Makes New $9.40 Million Investment in Netflix, Inc. (NASDAQ:NFLX)

Smithbridge Asset Management Inc. DE purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) in the first quarter, Holdings Channel.com reports. The firm purchased 10,084 shares of the Internet television network’s stock, valued at approximately $9,404,000. Netflix makes up about 1.7% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 19th biggest position.

Several other institutional investors have also recently bought and sold shares of NFLX. Pathway Financial Advisers LLC increased its holdings in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC acquired a new position in Netflix in the 4th quarter worth $32,000. Copia Wealth Management bought a new position in shares of Netflix during the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. grew its stake in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the 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 approximately $3,402,068.52. This represents a 41.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was 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 ninety days, insiders sold 185,140 shares of company stock valued at $210,271,552. Corporate insiders own 1.37% of the company’s stock.

Netflix Trading Down 0.4%

Shares of NFLX stock opened at $1,215.03 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The stock has a 50-day moving average of $1,113.54 and a 200-day moving average of $996.91. The stock has a market cap of $517.08 billion, a price-to-earnings ratio of 61.27, a PEG ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the business earned $8.28 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. UBS Group lifted their target price on Netflix from $1,150.00 to $1,450.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Evercore ISI restated an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Robert W. Baird boosted their price target on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Canaccord Genuity Group boosted their price objective on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Phillip Securities raised Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,156.73.

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.