First Horizon Advisors Inc. Increases Position in Netflix, Inc. (NASDAQ:NFLX)

First Horizon Advisors Inc. lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,945 shares of the Internet television network’s stock after buying an additional 151 shares during the period. First Horizon Advisors Inc.’s holdings in Netflix were worth $1,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC lifted its position in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the fourth quarter worth approximately $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the fourth quarter worth $32,000. Copia Wealth Management acquired a new stake in shares of Netflix during the fourth quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. grew its position in Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other news, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the completion of the sale, the director directly owned 394 shares in the company, valued at $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 1,090 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 in the last quarter. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. The Goldman Sachs Group increased their price target on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a “neutral” rating in a report on Wednesday. Oppenheimer lifted their price objective on Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a report on Thursday, June 12th. Morgan Stanley boosted their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, Wolfe Research set a $1,340.00 price target on Netflix and gave the company an “outperform” rating in a report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,182.58.

Netflix Trading Up 0.8%

Shares of Netflix stock opened at $1,295.24 on Friday. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50 day moving average price of $1,204.00 and a 200 day moving average price of $1,034.00. The company has a market capitalization of $551.21 billion, a P/E ratio of 61.21, a P/E/G ratio of 2.48 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the previous year, the firm posted $8.28 earnings per share. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.