17 Capital Partners LLC Has $1.89 Million Stock Position in Netflix, Inc. $NFLX

Key Points

• 17 Capital Partners LLC increased its Netflix stake by 66.3%, now owning 2,029 shares valued at approximately $1.89 million, making Netflix the firm's 13th largest position.
• Several hedge funds are showing increased interest in Netflix, including Brighton Jones LLC and Revolve Wealth Partners LLC, leading to a total of 80.93% institutional ownership of the company's stock.
• Netflix reported better-than-expected earnings, posting $7.19 EPS compared to the consensus estimate of $7.07, with revenues of $11.08 billion for the quarter, up 15.9% year-over-year.

17 Capital Partners LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 66.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,029 shares of the Internet television network's stock after purchasing an additional 809 shares during the quarter. Netflix accounts for approximately 1.2% of 17 Capital Partners LLC's holdings, making the stock its 13th largest position. 17 Capital Partners LLC's holdings in Netflix were worth $1,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares during the period. BIP Wealth LLC lifted its holdings in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after buying an additional 87 shares during the period. Farringdon Capital Ltd. acquired a new stake in shares of Netflix in the fourth quarter valued at $298,000. Finally, Alpha DNA Investment Management LLC purchased a new stake in shares of Netflix during the fourth quarter valued at $487,000. Institutional investors own 80.93% of the company's stock.

Netflix Stock Up 0.5%

Shares of NFLX traded up $6.14 during midday trading on Monday, reaching $1,245.09. 2,105,084 shares of the stock were exchanged, compared to its average volume of 3,364,073. Netflix, Inc. has a 12-month low of $660.80 and a 12-month high of $1,341.15. The firm has a 50 day simple moving average of $1,231.65 and a 200-day simple moving average of $1,105.79. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $529.08 billion, a price-to-earnings ratio of 53.05, a P/E/G ratio of 2.09 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business earned $4.88 EPS. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NFLX. Piper Sandler upped their target price on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their target price on Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Wolfe Research set a $1,340.00 target price on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Finally, Wells Fargo & Company upped their target price on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Buying and Selling

In other news, Director Reed Hastings sold 26,933 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the transaction, the director owned 394 shares of the company's stock, valued at approximately $477,394.04. This represents a 98.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,307 shares of company stock worth $179,443,809. Insiders own 1.37% of the company's stock.

Netflix 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.