Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky grew its position in Netflix, Inc. (NASDAQ:NFLX) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,095 shares of the Internet television network’s stock after buying an additional 35 shares during the period. Independence Bank of Kentucky’s holdings in Netflix were worth $665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Netflix in the 4th quarter worth approximately $2,558,598,000. Wellington Management Group LLP lifted its stake in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares during the period. Jennison Associates LLC grew its stake in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in shares of Netflix in the 1st quarter valued at $436,514,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX opened at $674.88 on Friday. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $689.88. The business’s 50-day moving average price is $628.93 and its 200 day moving average price is $584.34. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market cap of $290.87 billion, a P/E ratio of 46.83, a P/E/G ratio of 1.46 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released 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. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the business earned $2.88 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Friday, April 19th. CICC Research began coverage on shares of Netflix in a report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price objective for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $655.00 price objective on shares of Netflix in a research report on Wednesday, May 15th. Loop Capital lifted their target price on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Morgan Stanley upped their price target on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $633.53.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction dated Friday, June 14th. The shares were 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 $8,835,750. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,425 shares of company stock worth $41,919,791. Company insiders own 1.76% of the company’s stock.

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.