ARQ Wealth Advisors LLC Buys New Shares in Netflix, Inc. (NASDAQ:NFLX)

ARQ Wealth Advisors LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 249 shares of the Internet television network's stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC increased its stake in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new position in shares of Netflix in the fourth quarter worth $27,000. Transce3nd LLC purchased a new stake in shares of Netflix during the fourth quarter worth $32,000. Copia Wealth Management acquired a new stake in Netflix during the fourth quarter valued at $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Netflix in the first quarter valued at about $42,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $64.93 during midday trading on Friday, reaching $1,209.24. 10,678,762 shares of the company traded hands, compared to its average volume of 3,762,863. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The stock's 50-day simple moving average is $1,232.59 and its 200-day simple moving average is $1,061.94. The firm has a market cap of $514.62 billion, a PE ratio of 51.52, a PEG ratio of 2.19 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 43.00%. The company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the company posted $4.88 earnings per share. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several analyst reports. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Bank of America upped their target price on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Guggenheim reissued a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Moffett Nathanson reaffirmed a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Wells Fargo & Company raised their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research note on Friday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,291.41.

Insider Activity at Netflix

In related news, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the sale, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director owned 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock valued at $223,307,201 over the last ninety days. Company 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.