Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its holdings in Netflix, Inc. by 77.0%, acquiring an additional 2,802 shares, bringing their total holdings to 6,439 shares valued at $6,005,000.
• Several hedge funds have modified their positions, including Resurgent Financial Advisors, which raised its holdings by 234.4%, now owning 1,010 shares worth $942,000.
• Wall Street analysts are optimistic about Netflix, with a consensus target price of $1,297.66 and 23 analysts giving it a buy rating, indicating continued confidence in its growth potential.

Arkadios Wealth Advisors grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 77.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,439 shares of the Internet television network's stock after buying an additional 2,802 shares during the quarter. Arkadios Wealth Advisors' holdings in Netflix were worth $6,005,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Fullcircle Wealth LLC increased its position in Netflix by 2.5% in the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after acquiring an additional 9 shares during the period. Mission Creek Capital Partners Inc. grew its stake in shares of Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after buying an additional 10 shares during the period. Continuum Wealth Advisors LLC increased its holdings in shares of Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after acquiring an additional 10 shares in the last quarter. Financial Enhancement Group LLC lifted its stake in shares of Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after buying an additional 10 shares in the last quarter. Finally, Saxony Capital Management LLC increased its holdings in Netflix by 1.4% during the 1st quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Jeffrey William Karbowski sold 620 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Reed Hastings sold 9,673 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director directly owned 394 shares of the company's stock, valued at approximately $523,669.34. This trade represents a 96.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,408 shares of company stock worth $186,614,540. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NFLX. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and issued a $1,500.00 target price on shares of Netflix in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their price target 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. Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Cfra Research raised Netflix to a "strong-buy" rating in a report on Monday, April 28th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Price Performance

Shares of NFLX stock traded up $15.46 during trading hours on Wednesday, reaching $1,184.20. The company had a trading volume of 2,908,020 shares, compared to its average volume of 3,752,075. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a market capitalization of $503.20 billion, a price-to-earnings ratio of 50.46, a PEG ratio of 1.97 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a fifty day moving average of $1,235.42 and a 200-day moving average of $1,077.88.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate 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 EPS. The company's quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

About Netflix

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.