Traynor Capital Management Inc. Purchases 1,536 Shares of Netflix, Inc. (NASDAQ:NFLX)

Traynor Capital Management Inc. raised its position in Netflix, Inc. (NASDAQ:NFLX) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,339 shares of the Internet television network’s stock after buying an additional 1,536 shares during the period. Netflix comprises about 5.0% of Traynor Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Traynor Capital Management Inc.’s holdings in Netflix were worth $48,366,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. lifted its stake in Netflix by 26.5% in the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock worth $916,000 after purchasing an additional 512 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Netflix by 21.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after purchasing an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Netflix by 14.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after purchasing an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its stake in Netflix by 6.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after purchasing an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after purchasing an additional 441 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Netflix

In related news, Director Ann Mather sold 3,673 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Insiders sold a total of 273,767 shares of company stock valued at $151,298,232 over the last ninety days. Insiders own 2.45% of the company’s stock.

Netflix Stock Down 1.0 %

Shares of NFLX stock traded down $6.20 on Thursday, reaching $607.33. 3,706,671 shares of the stock were exchanged, compared to its average volume of 4,552,830. Netflix, Inc. has a twelve month low of $315.62 and a twelve month high of $634.39. The company has a market capitalization of $262.83 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 1.71 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $581.81 and its 200 day moving average price is $487.70.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. During the same period last year, the firm earned $0.12 earnings per share. Netflix’s revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Netflix, Inc. will post 17.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NFLX shares. Evercore ISI lifted their price target on shares of Netflix from $600.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Wedbush lifted their price target on shares of Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group lifted their price target on shares of Netflix from $580.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, March 12th. DZ Bank raised shares of Netflix from a “hold” rating to a “buy” rating and set a $600.00 price target on the stock in a research report on Thursday, January 25th. Finally, Canaccord Genuity Group lifted their price target on shares of Netflix from $575.00 to $625.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $583.18.

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.