Pacific Capital Wealth Advisors Inc. Acquires 23 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pacific Capital Wealth Advisors Inc. grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 6.7% in the 1st quarter, Holdings Channel reports. The fund owned 368 shares of the Internet television network’s stock after purchasing an additional 23 shares during the quarter. Pacific Capital Wealth Advisors Inc.’s holdings in Netflix were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC boosted its position in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares during the period. NBT Bank N A NY boosted its position in shares of Netflix by 17.8% in the first quarter. NBT Bank N A NY now owns 3,847 shares of the Internet television network’s stock valued at $3,587,000 after acquiring an additional 580 shares during the period. Strategic Advisors LLC boosted its position in shares of Netflix by 95.1% in the first quarter. Strategic Advisors LLC now owns 2,168 shares of the Internet television network’s stock valued at $2,022,000 after acquiring an additional 1,057 shares during the period. Consilium Wealth Advisory LLC bought a new stake in shares of Netflix in the first quarter valued at approximately $498,000. Finally, Vista Investment Partners LLC boosted its position in shares of Netflix by 11.2% in the first quarter. Vista Investment Partners LLC now owns 388 shares of the Internet television network’s stock valued at $362,000 after acquiring an additional 39 shares during the period. 80.93% of the stock is owned by institutional investors.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director now owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 in the company, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock valued at $210,271,552 over the last 90 days. 1.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. FBN Securities assumed coverage on Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price for the company. Wells Fargo & Company upped 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. Wedbush restated an “outperform” rating and issued a $1,200.00 target price on shares of Netflix in a research note on Monday, May 5th. Loop Capital restated a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Finally, Bank of America upped their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,156.73.

Netflix Price Performance

Netflix stock opened at $1,225.35 on Tuesday. The business’s 50-day simple moving average is $1,127.47 and its 200 day simple moving average is $1,003.32. The stock has a market cap of $521.47 billion, a price-to-earnings ratio of 61.79, 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.

Netflix (NASDAQ:NFLX) last issued its earnings results 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 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 quarter last year, the business earned $8.28 earnings per share. As a group, research analysts anticipate 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.