HM Payson & Co. Has $2.02 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

HM Payson & Co. raised its position in Netflix, Inc. (NASDAQ:NFLX) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,170 shares of the Internet television network’s stock after acquiring an additional 41 shares during the period. HM Payson & Co.’s holdings in Netflix were worth $2,024,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC raised its holdings in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix in the 4th quarter valued at $27,000. Transce3nd LLC acquired a new stake in Netflix in the 4th quarter valued at $32,000. Copia Wealth Management bought a new stake in Netflix in the fourth quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. grew its position in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NFLX shares. Rosenblatt Securities upped their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on Netflix from $1,222.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Citigroup reiterated a “neutral” rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Evercore ISI reiterated an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Finally, Morgan Stanley upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,182.58.

Netflix Trading Up 0.8%

Shares of NFLX opened at $1,295.24 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The firm has a market capitalization of $551.21 billion, a PE ratio of 61.21, a price-to-earnings-growth ratio of 2.35 and a beta of 1.59. The stock’s fifty day simple moving average is $1,207.87 and its 200-day simple moving average is $1,037.61.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the firm posted $8.28 earnings per share. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director owned 79,040 shares of the company’s stock, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,179,614.58. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,723 shares of company stock worth $223,307,201. Corporate insiders own 1.37% of the company’s stock.

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.