Concurrent Investment Advisors LLC Increases Position in Netflix, Inc. (NASDAQ:NFLX)

Concurrent Investment Advisors LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 25.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,040 shares of the Internet television network’s stock after purchasing an additional 1,223 shares during the period. Concurrent Investment Advisors LLC’s holdings in Netflix were worth $3,668,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NFLX. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the last quarter. VitalStone Financial LLC boosted its stake in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings 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 purchasing an additional 62 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of Netflix in the fourth quarter worth $32,000. Finally, Indiana Trust & Investment Management CO lifted its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NFLX. Jefferies Financial Group reiterated a “buy” rating and issued a $655.00 price target on shares of Netflix in a research note on Wednesday, May 15th. Macquarie increased their price target on Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Pivotal Research lifted their price objective on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Bank of America upped their price objective on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citigroup raised their target price on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $645.86.

Insider Activity

In other news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Anne M. Sweeney sold 3,029 shares of Netflix stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $580.00, for a total transaction of $1,756,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock valued at $44,469,351 in the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX traded up $9.46 during mid-day trading on Monday, hitting $657.06. 2,308,308 shares of the stock were exchanged, compared to its average volume of 3,892,960. The company has a market cap of $283.19 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The firm has a 50-day moving average of $651.70 and a two-hundred day moving average of $598.44. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $697.49.

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