Netflix, Inc. (NFLX) Position Increased by HCR Wealth Advisors

HCR Wealth Advisors raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.1% during the first quarter, Holdings Channel reports. The fund owned 2,749 shares of the Internet television network’s stock after buying an additional 275 shares during the period. HCR Wealth Advisors’ holdings in Netflix were worth $406,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NFLX. Credit Agricole S A increased its stake in shares of Netflix by 6.2% in the fourth quarter. Credit Agricole S A now owns 128,627 shares of the Internet television network’s stock valued at $15,924,000 after buying an additional 7,481 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Netflix during the fourth quarter valued at $1,504,000. Gideon Capital Advisors Inc. acquired a new stake in shares of Netflix during the fourth quarter valued at $240,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Netflix during the fourth quarter valued at $248,000. Finally, Brown Advisory Inc. increased its stake in shares of Netflix by 4.6% in the fourth quarter. Brown Advisory Inc. now owns 7,252 shares of the Internet television network’s stock valued at $898,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Netflix, Inc. (NFLX) traded up 0.41% during midday trading on Friday, reaching $152.38. The company’s stock had a trading volume of 6,909,705 shares. The company has a market cap of $65.67 billion, a PE ratio of 197.13 and a beta of 0.96. The stock has a 50-day moving average price of $158.44 and a 200 day moving average price of $142.71. Netflix, Inc. has a 12 month low of $84.50 and a 12 month high of $166.87.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, April 17th. The Internet television network reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Netflix had a net margin of 3.55% and a return on equity of 12.73%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the firm posted $0.06 EPS. The firm’s revenue was up 34.7% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post $1.04 earnings per share for the current fiscal year.

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A number of brokerages have commented on NFLX. Cantor Fitzgerald raised their price objective on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Sanford C. Bernstein reiterated a “buy” rating and issued a $178.00 price objective on shares of Netflix in a research report on Wednesday, May 31st. William Blair reiterated an “outperform” rating on shares of Netflix in a research report on Thursday, May 25th. Vetr downgraded Netflix from a “buy” rating to a “hold” rating and set a $166.13 price objective for the company. in a research report on Thursday, May 25th. Finally, Instinet reiterated a “buy” rating on shares of Netflix in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $148.44.

In other news, CEO Reed Hastings sold 101,815 shares of Netflix stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $157.13, for a total transaction of $15,998,190.95. Following the completion of the sale, the chief executive officer now directly owns 101,815 shares of the company’s stock, valued at approximately $15,998,190.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction on Friday, April 7th. The stock was sold at an average price of $143.90, for a total transaction of $287,800.00. Following the sale, the director now directly owns 8,012 shares of the company’s stock, valued at $1,152,926.80. The disclosure for this sale can be found here. Insiders have sold a total of 404,383 shares of company stock valued at $60,894,497 over the last ninety days. 4.90% of the stock is currently owned by insiders.

About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX).

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