Merrion Investment Management Co LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Merrion Investment Management Co LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,060 shares of the Internet television network’s stock after purchasing an additional 30 shares during the period. Merrion Investment Management Co LLC’s holdings in Netflix were worth $988,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC lifted its position in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the 4th quarter worth about $27,000. Transce3nd LLC purchased a new stake in Netflix in the fourth quarter worth about $32,000. Copia Wealth Management purchased a new stake in Netflix in the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after buying an additional 45 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Up 0.1%

Netflix stock opened at $1,222.29 on Thursday. The stock has a market cap of $520.17 billion, a PE ratio of 57.76, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81. The stock has a fifty day moving average of $1,138.51 and a 200 day moving average of $1,006.33.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the firm earned $8.28 EPS. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on NFLX. UBS Group raised their target price on Netflix from $1,150.00 to $1,450.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. KeyCorp raised their price objective on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Oppenheimer raised their price objective on Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Phillip Securities raised shares of Netflix from a “moderate sell” rating to a “hold” rating in a research report on Monday, April 21st. Finally, Morgan Stanley lifted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,156.73.

Insider Buying and Selling at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 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. Insiders own 1.37% of the company’s stock.

Netflix Company Profile

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.