Brown Miller Wealth Management LLC Purchases New Position in Netflix, Inc. (NASDAQ:NFLX)

Brown Miller Wealth Management LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 349 shares of the Internet television network’s stock, valued at approximately $211,000.

Several other large investors have also modified their holdings of the company. Capital World Investors boosted its holdings in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the period. Jennison Associates LLC boosted its holdings 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 acquiring an additional 1,573,978 shares during the period. Norges Bank acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $2,558,598,000. Fisher Asset Management LLC boosted its holdings in shares of Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after acquiring an additional 78,298 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NFLX. KeyCorp increased their price target on Netflix from $705.00 to $707.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Rosenblatt Securities increased their price target on Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Loop Capital increased their price target on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 price target on shares of Netflix in a report on Friday, April 19th. Finally, Sanford C. Bernstein increased their price target on Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $633.53.

Insiders Place Their Bets

In other Netflix news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated 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 transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,425 shares of company stock valued at $41,919,791. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock traded down $9.46 during midday trading on Friday, reaching $674.88. 3,412,391 shares of the company were exchanged, compared to its average volume of 2,746,538. The company has a market capitalization of $290.87 billion, a price-to-earnings ratio of 46.83, a P/E/G ratio of 1.46 and a beta of 1.26. The firm’s 50-day simple moving average is $628.93 and its 200-day simple moving average is $584.34. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $689.88. 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 posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the business posted $2.88 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, analysts anticipate that Netflix, Inc. will post 18.31 EPS 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.