Meyer Handelman Co. Has $2.04 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Meyer Handelman Co. lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the first quarter, Holdings Channel.com reports. The firm owned 3,358 shares of the Internet television network’s stock after acquiring an additional 25 shares during the quarter. Meyer Handelman Co.’s holdings in Netflix were worth $2,039,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital World Investors lifted its holdings in 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 buying an additional 78,320 shares during the period. Jennison Associates LLC lifted its holdings in 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 during the period. Norges Bank acquired a new position in Netflix in the fourth quarter valued at $2,558,598,000. Fisher Asset Management LLC lifted its holdings in 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 buying an additional 78,298 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in 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 buying an additional 3,273,592 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $686.12 on Friday. The stock has a market capitalization of $295.72 billion, a P/E ratio of 47.61, a PEG 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. The firm’s 50 day moving average is $621.45 and its 200 day moving average is $576.62. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $689.88.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.28 billion. During the same period in the prior year, the company posted $2.88 EPS. Netflix’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were 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 directly owns 13,090 shares in the company, 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. In other news, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction on Friday, June 14th. The shares were 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 owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders have sold 69,425 shares of company stock worth $41,919,791 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NFLX. CICC Research began coverage on shares of Netflix in a report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 target price on the stock. Bank of America upped their price objective on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday, April 19th. Oppenheimer reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a report on Friday, April 19th. Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and dropped their price objective for the company from $720.00 to $585.00 in a report on Friday, April 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 price objective on shares of Netflix in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $633.53.

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.