Purkiss Capital Advisors LLC Invests $218,000 in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Purkiss Capital Advisors LLC has acquired a new stake in Netflix, purchasing 234 shares valued at approximately $218,000 during the first quarter.
• The company's shares opened at $1,180.49, with a market cap of $501.63 billion and a 52-week high of $1,341.15.
• Netflix reported an EPS of $7.19 for the latest quarter, exceeding expectations, with revenues increasing by 15.9% year-over-year.

Purkiss Capital Advisors LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 234 shares of the Internet television network's stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. Brighton Jones LLC grew its holdings in Netflix by 5.0% in the 4th 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 boosted its holdings in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after acquiring an additional 144 shares during the period. BIP Wealth LLC boosted its holdings in Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after acquiring an additional 87 shares during the period. New Age Alpha Advisors LLC boosted its holdings in Netflix by 23,012.5% in the 4th quarter. New Age Alpha Advisors LLC now owns 3,698 shares of the Internet television network's stock worth $3,296,000 after acquiring an additional 3,682 shares during the period. Finally, RiverFront Investment Group LLC purchased a new position in Netflix in the 4th quarter worth approximately $227,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NFLX. Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Rosenblatt Securities upped their target price on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Finally, Barclays reaffirmed a "sell" rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Price Performance

NFLX stock traded down $9.05 during trading hours on Thursday, hitting $1,175.15. 1,793,392 shares of the stock traded hands, compared to its average volume of 4,259,887. The stock has a 50-day simple moving average of $1,235.42 and a 200 day simple moving average of $1,077.88. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company has a market cap of $499.36 billion, a P/E ratio of 50.09, a P/E/G ratio of 1.97 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

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

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,472,273.97. This represents a 41.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $32,633,638.78. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at approximately $477,394.04. This represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,830 shares of company stock worth $153,102,930 over the last three months. Company 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.