Pacific Sun Financial Corp bought a new position in Netflix, Inc. (NASDAQ:NFLX – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 660 shares of the Internet television network’s stock, valued at approximately $228,000.
A number of other large investors have also bought and sold shares of the company. Arete Wealth Advisors LLC purchased a new position in shares of Netflix in the first quarter valued at $885,000. Old North State Trust LLC grew its position in shares of Netflix by 25.7% in the first quarter. Old North State Trust LLC now owns 357 shares of the Internet television network’s stock valued at $123,000 after purchasing an additional 73 shares in the last quarter. US Bancorp DE grew its position in shares of Netflix by 7.5% in the first quarter. US Bancorp DE now owns 113,184 shares of the Internet television network’s stock valued at $39,103,000 after purchasing an additional 7,872 shares in the last quarter. ETF Managers Group LLC grew its position in shares of Netflix by 376.5% in the first quarter. ETF Managers Group LLC now owns 9,040 shares of the Internet television network’s stock valued at $3,123,000 after purchasing an additional 7,143 shares in the last quarter. Finally, Coastline Trust Co grew its position in shares of Netflix by 479.4% in the first quarter. Coastline Trust Co now owns 5,510 shares of the Internet television network’s stock valued at $1,904,000 after purchasing an additional 4,559 shares in the last quarter. 79.95% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on NFLX shares. Credit Suisse Group restated a “neutral” rating and set a $370.00 target price on shares of Netflix in a research report on Thursday, July 20th. Citigroup boosted their target price on Netflix from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, June 29th. Wells Fargo & Company restated an “overweight” rating and set a $500.00 target price on shares of Netflix in a research report on Thursday, July 20th. Robert W. Baird upgraded Netflix from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $340.00 to $500.00 in a research report on Monday, July 24th. Finally, Truist Financial restated a “hold” rating and set a $485.00 target price on shares of Netflix in a research report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $431.44.
Netflix Stock Performance
NFLX stock opened at $394.40 on Tuesday. The stock has a market capitalization of $174.78 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 1.32 and a beta of 1.29. Netflix, Inc. has a 12-month low of $211.73 and a 12-month high of $485.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $430.91 and its 200 day simple moving average is $384.60.
Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings data on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.44. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.20 EPS. As a group, research analysts forecast that Netflix, Inc. will post 11.92 earnings per share for the current fiscal year.
Insider Activity at Netflix
In related news, Director Timothy M. Haley sold 1,022 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $450.19, for a total value of $460,094.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy M. Haley sold 1,022 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $450.19, for a total value of $460,094.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,377 shares of company stock valued at $54,547,674. 2.45% of the stock is owned by corporate insiders.
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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