E Fund Management Co. Ltd. increased its position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 75.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,411 shares of the Internet television network’s stock after buying an additional 7,935 shares during the quarter. Netflix comprises approximately 0.8% of E Fund Management Co. Ltd.’s portfolio, making the stock its 22nd largest position. E Fund Management Co. Ltd.’s holdings in Netflix were worth $17,169,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC raised its position in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC purchased a new stake in shares of Netflix during the fourth quarter worth $32,000. Copia Wealth Management purchased a new stake in shares of Netflix during the fourth quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix during the first quarter worth $42,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.
Netflix Stock Up 0.6%
NASDAQ NFLX opened at $1,225.28 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The company’s 50 day simple moving average is $1,232.39 and its 200 day simple moving average is $1,097.79. Netflix, Inc. has a 12 month low of $635.50 and a 12 month high of $1,341.15. The company has a market capitalization of $520.66 billion, a P/E ratio of 52.21, a PEG ratio of 2.05 and a beta of 1.59.
Analysts Set New Price Targets
NFLX has been the topic of a number of recent research reports. Pivotal Research reaffirmed a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. Wedbush reiterated an “outperform” rating and set a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Bank of America upped their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Oppenheimer upped their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Finally, Guggenheim reiterated a “buy” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,297.66.
Read Our Latest Research Report on NFLX
Insider Activity at Netflix
In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the business’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 transaction, the director directly owned 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,307 shares of company stock valued at $179,443,809. Company 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.
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