Meyer Handelman Co. Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Meyer Handelman Co. increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,358 shares of the Internet television network’s stock after acquiring an additional 25 shares during the period. Meyer Handelman Co.’s holdings in Netflix were worth $2,039,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Columbia Trust Co 01012016 boosted its position in shares of 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 buying an additional 208 shares during the period. Crumly & Associates Inc. boosted its holdings in Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after purchasing an additional 83 shares during the period. Venture Visionary Partners LLC boosted its holdings in Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after purchasing an additional 1,318 shares during the period. Sandy Cove Advisors LLC boosted its holdings in Netflix by 10.6% in the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after purchasing an additional 114 shares during the period. Finally, Malaga Cove Capital LLC boosted its holdings in Netflix by 25.4% in the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock valued at $761,000 after purchasing an additional 316 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NFLX shares. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. CICC Research initiated coverage on Netflix in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price target on the stock. Pivotal Research raised their price target on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Netflix in a research note on Monday, June 17th. Finally, KeyCorp raised their price target on Netflix from $705.00 to $707.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $633.53.

Netflix Price Performance

Shares of NFLX opened at $686.12 on Friday. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $689.88. The stock’s 50 day moving average is $621.45 and its two-hundred day moving average is $576.62. The firm has a market capitalization of $295.72 billion, a PE ratio of 47.61, a P/E/G ratio of 1.47 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 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.88 EPS. Research analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Netflix news, Director Anne M. Sweeney sold 633 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. Insiders have sold 69,425 shares of company stock valued at $41,919,791 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

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.