Tritonpoint Wealth LLC Has $1.78 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Tritonpoint Wealth LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,905 shares of the Internet television network’s stock after purchasing an additional 81 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Netflix were worth $1,776,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NFLX. GAMMA Investing LLC increased its stake in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank bought a new stake in Netflix during the fourth quarter valued at about $5,019,087,000. Proficio Capital Partners LLC boosted its holdings in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after acquiring an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after acquiring an additional 856,307 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after acquiring an additional 743,724 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NFLX. BMO Capital Markets restated an “outperform” rating and set a $1,200.00 price target (up from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Wells Fargo & Company raised their price target on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Bank of America raised their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,156.73.

Insider Activity at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the transaction, the director now owns 63,040 shares of the company’s stock, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is currently owned by company insiders.

Netflix Trading Down 0.2%

Shares of NASDAQ NFLX opened at $1,212.15 on Friday. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The company has a 50-day moving average of $1,120.37 and a two-hundred day moving average of $999.25. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $515.86 billion, a PE ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the previous year, the company earned $8.28 EPS. As a group, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.