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Beacon Financial Advisory LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,053 shares of the Internet television network’s stock, valued at approximately $464,000.
A number of other hedge funds have also made changes to their positions in NFLX. Fairfield Bush & CO. increased its stake in shares of Netflix by 26.5% during the first quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after acquiring an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Netflix by 21.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after buying an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Netflix by 14.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after buying an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in Netflix by 6.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after buying an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Netflix by 13.1% during the first quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after buying an additional 441 shares in the last quarter. Institutional investors and hedge funds own 79.95% of the company’s stock.
Netflix Price Performance
Shares of NFLX stock traded down $4.34 during trading hours on Friday, reaching $379.81. 3,699,796 shares of the company were exchanged, compared to its average volume of 4,829,376. The stock’s fifty day moving average is $425.36 and its two-hundred day moving average is $386.76. Netflix, Inc. has a fifty-two week low of $211.73 and a fifty-two week high of $485.00. The company has a market cap of $168.31 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 1.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.33 and a quick ratio of 1.33.
Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.44. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $3.20 earnings per share. Netflix’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 11.92 earnings per share for the current fiscal year.
Analysts Set New Price Targets
NFLX has been the subject of a number of research reports. Truist Financial restated a “hold” rating and set a $485.00 target price on shares of Netflix in a report on Friday, September 15th. Wells Fargo & Company reiterated an “overweight” rating and set a $500.00 price objective on shares of Netflix in a research report on Thursday, July 20th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $495.00 to $505.00 and gave the stock an “overweight” rating in a research report on Thursday, July 20th. Robert W. Baird upgraded shares of Netflix from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $340.00 to $500.00 in a research report on Monday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $450.00 price objective on shares of Netflix in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $430.12.
Check Out Our Latest Analysis on NFLX
Insider Activity at Netflix
In other Netflix news, CEO Theodore A. Sarandos sold 55,386 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $431.10, for a total value of $23,876,904.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Netflix news, CEO Theodore A. Sarandos sold 55,386 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $431.10, for a total value of $23,876,904.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 23,415 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $436.92, for a total transaction of $10,230,481.80. The disclosure for this sale can be found here. Insiders have sold 125,377 shares of company stock worth $54,547,674 over the last ninety days. Company insiders own 2.45% of the company’s stock.
Netflix Profile
(Free Report)
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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