AGP Franklin LLC Purchases Shares of 218 Netflix, Inc. (NASDAQ:NFLX)

Key Points

• AGP Franklin LLC invested $213,000 in Netflix, acquiring 218 shares during the first quarter, according to their recent 13F filing.
• Netflix reported a 15.9% increase in quarterly revenue year-over-year, earning $7.19 per share, surpassing analysts' expectations.
• A consensus rating of "Moderate Buy" has been assigned to Netflix, with a price target set at approximately $1,297.66.

AGP Franklin LLC acquired a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 218 shares of the Internet television network's stock, valued at approximately $213,000.

Several other institutional investors have also recently made changes to their positions in NFLX. Resurgent Financial Advisors LLC raised its stake in Netflix by 234.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after acquiring an additional 708 shares during the period. Janus Henderson Group PLC raised its stake in Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after acquiring an additional 110,432 shares during the period. PharVision Advisers LLC bought a new stake in Netflix during the 4th quarter worth approximately $873,000. New England Research & Management Inc. raised its stake in Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after acquiring an additional 1,268 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock worth $50,952,000 after acquiring an additional 3,137 shares during the period. Institutional investors own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other news, Director Strive Masiyiwa sold 290 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director owned 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,830 shares of company stock valued at $153,102,930. Insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NFLX shares. BMO Capital Markets reiterated an "outperform" rating and set a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Rosenblatt Securities lifted their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company lifted their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Phillip Securities lowered shares of Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Three 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Stock Down 0.8%

Netflix stock traded down $9.21 during trading hours on Thursday, reaching $1,174.99. The stock had a trading volume of 1,793,392 shares, compared to its average volume of 4,259,887. The company has a market cap of $499.29 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 1.97 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The business's 50 day moving average price is $1,235.42 and its 200-day moving average price is $1,077.88. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the firm earned $4.88 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company 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.