Harfst & Associates Inc. Invests $701,000 in Netflix, Inc. (NASDAQ:NFLX)

Harfst & Associates Inc. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 752 shares of the Internet television network’s stock, valued at approximately $701,000.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Nuveen LLC acquired a new position in shares of Netflix during the 1st quarter worth $2,385,585,000. Goldman Sachs Group Inc. raised its holdings in shares of Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock worth $3,164,134,000 after buying an additional 1,236,251 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after buying an additional 570,674 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after buying an additional 509,255 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NFLX stock opened at $1,204.44 on Thursday. The firm has a market cap of $511.80 billion, a P/E ratio of 51.32, a P/E/G ratio of 2.06 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $648.70 and a fifty-two week high of $1,341.15. The business’s 50 day moving average price is $1,231.68 and its 200-day moving average price is $1,098.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $4.88 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cletus R. Willems sold 238 shares of Netflix stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Insiders sold a total of 146,307 shares of company stock valued at $179,443,809 over the last ninety days. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Cfra Research raised Netflix to a “strong-buy” rating in a report on Monday, April 28th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the stock an “outperform” rating in a research report on Friday, May 16th. Needham & Company LLC restated a “buy” rating and set a $1,500.00 price objective on shares of Netflix in a research report on Friday, July 18th. Finally, Moffett Nathanson restated a “buy” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,297.66.

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.