Proficio Capital Partners LLC Purchases 457 Shares of Netflix, Inc. (NASDAQ:NFLX)

Proficio Capital Partners LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 29.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,002 shares of the Internet television network’s stock after purchasing an additional 457 shares during the quarter. Proficio Capital Partners LLC’s holdings in Netflix were worth $1,216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in Netflix during the first quarter worth about $1,977,000. Smith Salley Wealth Management increased its holdings in Netflix by 3.5% during the 1st quarter. Smith Salley Wealth Management now owns 1,491 shares of the Internet television network’s stock valued at $906,000 after purchasing an additional 51 shares in the last quarter. Absolute Capital Management LLC bought a new position in Netflix in the 1st quarter valued at $550,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Netflix by 53.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 722 shares of the Internet television network’s stock worth $438,000 after purchasing an additional 251 shares in the last quarter. Finally, Patron Partners LLC increased its position in Netflix by 25.6% in the 1st quarter. Patron Partners LLC now owns 1,320 shares of the Internet television network’s stock valued at $802,000 after acquiring an additional 269 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the sale, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The disclosure for this sale can be found here. In the last three months, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. CICC Research initiated coverage on shares of Netflix in a report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of Netflix in a research report on Monday, June 17th. KeyCorp lifted their price objective on Netflix from $705.00 to $707.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Piper Sandler raised their target price on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Loop Capital boosted their price target on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $638.77.

Netflix Stock Performance

Shares of NASDAQ:NFLX remained flat at $685.74 during trading on Tuesday. The company’s stock had a trading volume of 2,596,425 shares, compared to its average volume of 3,909,421. The stock has a market capitalization of $295.55 billion, a PE ratio of 47.59, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27. 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, Inc. has a 52-week low of $344.73 and a 52-week high of $697.49. The firm has a fifty day simple moving average of $646.07 and a two-hundred day simple moving average of $594.86.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the firm posted $2.88 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 18.31 EPS for the current year.

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.