Connecticut Wealth Management LLC Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Connecticut Wealth Management LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 75.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 980 shares of the Internet television network’s stock after acquiring an additional 421 shares during the period. Connecticut Wealth Management LLC’s holdings in Netflix were worth $477,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Columbia Trust Co 01012016 grew its position in Netflix by 15.3% during the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after purchasing an additional 208 shares during the last quarter. Crumly & Associates Inc. grew its position in Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares during the last quarter. Venture Visionary Partners LLC grew its position in Netflix by 15.4% during the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after purchasing an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Netflix by 142.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares during the last quarter. Finally, Sandy Cove Advisors LLC grew its position in Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after purchasing an additional 114 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 2.7 %

Shares of NASDAQ:NFLX traded up $15.38 during midday trading on Monday, reaching $594.72. The company’s stock had a trading volume of 2,226,820 shares, compared to its average volume of 4,410,218. The firm has a market cap of $256.30 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 1 year low of $322.03 and a 1 year high of $639.00. The business has a 50 day moving average price of $602.57 and a 200 day moving average price of $528.80.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.88 earnings per share. Research analysts forecast that Netflix, Inc. will post 18.3 EPS for the current year.

Insider Activity

In other news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 18,361 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $15,443.12. The disclosure for this sale can be found here. Insiders sold a total of 152,833 shares of company stock valued at $88,270,051 over the last quarter. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Benchmark restated a “sell” rating and issued a $440.00 target price on shares of Netflix in a research note on Thursday, April 18th. Canaccord Genuity Group restated a “hold” rating and issued a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Seaport Res Ptn cut shares of Netflix from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 30th. Finally, Redburn Atlantic raised their target price on shares of Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $631.15.

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.