ERn Financial LLC Purchases 93 Shares of Netflix, Inc. (NASDAQ:NFLX)

ERn Financial LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 9.0% in the first quarter, HoldingsChannel.com reports. The fund owned 1,132 shares of the Internet television network’s stock after buying an additional 93 shares during the period. ERn Financial LLC’s holdings in Netflix were worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Columbia Trust Co 01012016 lifted its position in shares of Netflix by 15.3% in the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after buying an additional 208 shares during the last quarter. Crumly & Associates Inc. boosted its position in Netflix by 4.1% during the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares during the period. Venture Visionary Partners LLC increased its holdings in shares of 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 last quarter. Sandy Cove Advisors LLC raised its position in shares of 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 raised its position in shares of 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 institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 268 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,425 shares of company stock worth $41,919,791. 1.76% of the stock is owned by corporate insiders.

Netflix Trading Up 1.0 %

NFLX opened at $684.34 on Friday. The firm has a market capitalization of $294.95 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 1.46 and a beta of 1.26. The company’s 50 day moving average price is $625.06 and its two-hundred day moving average price is $581.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $689.88.

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 company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the firm earned $2.88 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, research analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. KeyCorp upped their price target on shares of Netflix from $705.00 to $707.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Wells Fargo & Company increased their target price on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Evercore ISI boosted their price target on Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Oppenheimer reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Friday, April 19th. Finally, Wedbush restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target 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.