Redwood Investment Management LLC Purchases 324 Shares of Netflix, Inc. (NASDAQ:NFLX)

Redwood Investment Management LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,339 shares of the Internet television network’s stock after buying an additional 324 shares during the period. Redwood Investment Management LLC’s holdings in Netflix were worth $2,028,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Ballentine Partners LLC raised its stake in Netflix by 24.1% during the 4th quarter. Ballentine Partners LLC now owns 5,093 shares of the Internet television network’s stock valued at $2,480,000 after purchasing an additional 988 shares during the last quarter. IFG Advisory LLC acquired a new position in Netflix during the 4th quarter valued at $244,000. Blue Trust Inc. raised its stake in Netflix by 19.2% during the 4th quarter. Blue Trust Inc. now owns 882 shares of the Internet television network’s stock valued at $429,000 after purchasing an additional 142 shares during the last quarter. PFG Advisors acquired a new position in Netflix during the 4th quarter valued at $227,000. Finally, Strategic Advisors LLC acquired a new position in Netflix during the 4th quarter valued at $384,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 0.9 %

Shares of NASDAQ:NFLX traded up $5.77 during mid-day trading on Wednesday, reaching $628.35. The stock had a trading volume of 3,130,295 shares, compared to its average volume of 3,944,671. The firm has a market cap of $269.67 billion, a PE ratio of 43.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The firm has a 50 day simple moving average of $656.97 and a two-hundred day simple moving average of $611.91. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $697.49.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the company posted $3.29 EPS. On average, research analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Anne M. Sweeney sold 3,029 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $580.00, for a total transaction of $1,756,820.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Anne M. Sweeney sold 3,029 shares of Netflix stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $580.00, for a total value of $1,756,820.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 268 shares of Netflix stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $18,764,328.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,391 shares of company stock worth $33,988,045. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NFLX shares. Bank of America increased their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Guggenheim increased their price objective on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. KeyCorp increased their price objective on shares of Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Argus increased their price objective on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Rosenblatt Securities increased their price objective on shares of Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $681.21.

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.