Tritonpoint Wealth LLC Acquires 81 Shares of Netflix, Inc. (NASDAQ:NFLX)

Tritonpoint Wealth LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 4.4% during the first quarter, HoldingsChannel.com reports. The firm owned 1,905 shares of the Internet television network’s stock after purchasing an additional 81 shares during the period. Tritonpoint Wealth LLC’s holdings in Netflix were worth $1,776,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Jackson Square Capital LLC lifted its position in shares of Netflix by 18.3% in the first quarter. Jackson Square Capital LLC now owns 7,368 shares of the Internet television network’s stock worth $6,871,000 after purchasing an additional 1,138 shares in the last quarter. BNC Wealth Management LLC raised its position in Netflix by 6.7% during the first quarter. BNC Wealth Management LLC now owns 3,449 shares of the Internet television network’s stock worth $3,216,000 after acquiring an additional 217 shares in the last quarter. Goldstone Financial Group LLC raised its position in Netflix by 11.4% during the first quarter. Goldstone Financial Group LLC now owns 910 shares of the Internet television network’s stock worth $849,000 after acquiring an additional 93 shares in the last quarter. New England Research & Management Inc. raised its position in Netflix by 148.5% during the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network’s stock worth $1,979,000 after acquiring an additional 1,268 shares in the last quarter. Finally, CVA Family Office LLC raised its position in Netflix by 5.4% during the first quarter. CVA Family Office LLC now owns 1,035 shares of the Internet television network’s stock worth $965,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NFLX. Wells Fargo & Company upped their price target on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $1,126.00 price target on shares of Netflix in a research report on Thursday, April 17th. Citigroup reaffirmed a “neutral” rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Pivotal Research upped their price target on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Finally, FBN Securities initiated coverage on shares of Netflix in a report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price objective on the stock. Eleven research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,156.73.

Netflix Trading Down 0.2%

Shares of Netflix stock opened at $1,212.15 on Friday. The company has a market capitalization of $515.86 billion, a price-to-earnings ratio of 61.13, a PEG ratio of 2.12 and a beta of 1.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. The firm’s 50-day moving average price is $1,120.37 and its two-hundred day moving average price is $999.25.

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, topping 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 firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the company posted $8.28 earnings per share. On average, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,140 shares of company stock worth $210,271,552. Corporate 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.