Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Empirical Finance LLC

Empirical Finance LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,922 shares of the Internet television network’s stock after purchasing an additional 522 shares during the period. Empirical Finance LLC’s holdings in Netflix were worth $9,670,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Columbia Trust Co 01012016 grew its holdings in Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after acquiring an additional 208 shares during the period. Crumly & Associates Inc. grew its holdings in Netflix by 4.1% during the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after acquiring an additional 83 shares during the period. Venture Visionary Partners LLC grew its holdings in Netflix by 15.4% during the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after acquiring an additional 1,318 shares during the period. Sandy Cove Advisors LLC grew its holdings in Netflix by 10.6% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after acquiring an additional 114 shares during the period. Finally, Malaga Cove Capital LLC grew its holdings in Netflix by 25.4% during the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after acquiring an additional 316 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 22,526 shares of the 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 transaction, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,385 shares of company stock valued at $44,469,351. 1.76% of the stock is owned by insiders.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $5.15 during trading on Friday, hitting $647.60. The company had a trading volume of 3,288,495 shares, compared to its average volume of 3,904,285. The company has a market cap of $279.12 billion, a P/E ratio of 45.34, a PEG ratio of 1.46 and a beta of 1.27. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $697.49. The business’s 50-day moving average is $650.34 and its 200 day moving average is $595.84. 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 (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. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the business earned $2.88 EPS. The company’s revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on NFLX shares. Bank of America raised their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company raised their price objective on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Wedbush reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Monday, May 20th. Macquarie lifted their price target on Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Finally, Pivotal Research lifted their price target on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $642.43.

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.