Azimuth Capital Investment Management LLC Acquires 1,424 Shares of Netflix, Inc. (NASDAQ:NFLX)

Azimuth Capital Investment Management LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 10.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,429 shares of the Internet television network’s stock after purchasing an additional 1,424 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Netflix were worth $13,752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC increased its holdings in shares of Netflix by 13.2% in the fourth quarter. Advisory Services Network LLC now owns 18,213 shares of the Internet television network’s stock valued at $16,234,000 after purchasing an additional 2,130 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Netflix during the 4th quarter valued at $125,000. Peachtree Investment Partners LLC bought a new position in Netflix in the 4th quarter valued at about $229,000. Bank of Nova Scotia raised its position in shares of Netflix by 110.5% in the 4th quarter. Bank of Nova Scotia now owns 211,759 shares of the Internet television network’s stock valued at $188,745,000 after buying an additional 111,153 shares in the last quarter. Finally, Shelton Capital Management raised its position in shares of Netflix by 2.5% in the 4th quarter. Shelton Capital Management now owns 76,052 shares of the Internet television network’s stock valued at $67,787,000 after buying an additional 1,859 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares of the company’s stock, valued at $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock worth $267,919,297 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Needham & Company LLC lifted their price target on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Robert W. Baird lifted their target price on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,020.17.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $870.40 on Wednesday. The firm has a market capitalization of $372.32 billion, a P/E ratio of 43.89, a P/E/G ratio of 2.12 and a beta of 1.55. The firm’s 50-day moving average price is $963.96 and its 200-day moving average price is $879.39. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the company earned $2.11 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.