Stonebridge Capital Management Inc. Invests $216,000 in Netflix, Inc. (NASDAQ:NFLX)

Stonebridge Capital Management Inc. acquired a new position in Netflix, Inc. (NASDAQ:NFLX) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 355 shares of the Internet television network’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Spartan Planning & Wealth Management bought a new stake in shares of Netflix in the 3rd quarter worth $26,000. VitalStone Financial LLC raised its stake in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Netflix in the 4th quarter worth $32,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in shares of Netflix by 89.7% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after buying an additional 35 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,425 shares of company stock valued at $41,919,791. Insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.6 %

NASDAQ NFLX traded up $4.07 on Thursday, reaching $681.76. The stock had a trading volume of 661,360 shares, compared to its average volume of 3,982,576. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $689.88. The business has a 50 day moving average price of $623.78 and a 200 day moving average price of $580.61. The company has a market capitalization of $293.84 billion, a price-to-earnings ratio of 47.40, a P/E/G ratio of 1.45 and a beta of 1.26. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, analysts forecast that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the topic of a number of research reports. Loop Capital boosted their price objective on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Pivotal Research lifted their target price on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Rosenblatt Securities lifted their target price on Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Canaccord Genuity Group restated a “hold” rating and issued a $585.00 target price (down from $720.00) on shares of Netflix in a report on Friday, April 19th. Finally, Guggenheim lifted their target price on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.53.

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.