Algert Global LLC Acquires 330 Shares of Netflix, Inc. $NFLX

Key Points

• Algert Global LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.6% during Q1, owning a total of 9,619 shares worth approximately $8.97 million.
• Insider transactions included CFO Spencer Adam Neumann selling 2,601 shares and Director Reed Hastings selling 26,933 shares, significantly reducing their positions by 41.34% and 98.56%, respectively.
• Netflix reported earnings of $7.19 per share for the last quarter, exceeding analysts' estimates, with a revenue of $11.08 billion, reflecting a 15.9% increase year-over-year.

Algert Global LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,619 shares of the Internet television network's stock after purchasing an additional 330 shares during the period. Algert Global LLC's holdings in Netflix were worth $8,970,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC raised its position in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix in the 4th quarter worth about $27,000. Transce3nd LLC bought a new position in shares of Netflix in the 4th quarter worth about $32,000. Copia Wealth Management bought a new position in shares of Netflix in the 4th quarter worth about $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Netflix in the 1st quarter worth about $42,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $6.14 during midday trading on Monday, reaching $1,245.09. The company's stock had a trading volume of 2,105,084 shares, 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 moving average price of $1,231.65 and a 200-day moving average price of $1,105.79. The stock has a market capitalization of $529.08 billion, a P/E ratio of 53.05, a PEG ratio of 2.09 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.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its 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 firm had revenue of $11.08 billion for 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 company's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.88 EPS. As a group, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Pivotal Research reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 target price on shares of Netflix in a research report on Friday, July 18th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a research report on Monday, July 21st. The Goldman Sachs Group boosted their target price on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Rosenblatt Securities boosted 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. Three equities research 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the sale, the chief executive officer owned 15,168 shares of the company's stock, valued at approximately $17,604,284.16. The trade was a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,286,026.11. This trade represents a 15.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock worth $179,443,809 in the last three months. Insiders own 1.37% of the company's stock.

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.