Salem Investment Counselors Inc. Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Salem Investment Counselors Inc. lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,972 shares of the Internet television network’s stock after buying an additional 82 shares during the period. Salem Investment Counselors Inc.’s holdings in Netflix were worth $2,772,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NFLX. Janus Henderson Group PLC increased its position in shares of Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock valued at $1,227,468,000 after purchasing an additional 110,432 shares during the last quarter. PharVision Advisers LLC bought a new position in Netflix during the fourth quarter valued at about $873,000. First National Trust Co increased its holdings in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after buying an additional 12 shares during the last quarter. Haven Private LLC bought a new stake in Netflix in the fourth quarter worth about $733,000. Finally, Sigma Planning Corp boosted its stake in Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after acquiring an additional 386 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. KeyCorp increased their target price on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. UBS Group raised their target price on Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Robert W. Baird upped their price target on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Macquarie increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Finally, Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the stock an “outperform” rating in a research note on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,156.73.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 2,027 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the completion of the sale, the chief executive officer now directly owns 12,781 shares in the company, valued at approximately $14,589,639.31. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock worth $210,271,552 in the last ninety days. 1.37% of the stock is owned by company insiders.

Netflix Trading Down 0.4%

Shares of NFLX opened at $1,215.03 on Friday. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The firm has a market cap of $517.08 billion, a price-to-earnings ratio of 61.27, a PEG ratio of 2.12 and a beta of 1.59. The firm has a 50 day moving average price of $1,113.54 and a 200-day moving average price of $996.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

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

Netflix 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.