Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Aviance Capital Partners LLC

Aviance Capital Partners LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 528.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,566 shares of the Internet television network's stock after purchasing an additional 1,317 shares during the period. Aviance Capital Partners LLC's holdings in Netflix were worth $1,461,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC raised its holdings in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC purchased a new position in Netflix during the fourth quarter worth about $32,000. Copia Wealth Management purchased a new position in Netflix in the fourth quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. increased its holdings in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 0.8%

Shares of Netflix stock traded up $10.38 during trading hours on Friday, reaching $1,295.24. 2,006,224 shares of the company's stock were exchanged, compared to its average volume of 3,761,661. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm has a market capitalization of $551.21 billion, a price-to-earnings ratio of 61.21, a price-to-earnings-growth ratio of 2.35 and a beta of 1.59. The company has a fifty day moving average of $1,204.00 and a 200-day moving average of $1,034.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the company posted $8.28 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NFLX shares. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Monday, March 24th. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Cfra Research raised shares of Netflix to a "strong-buy" rating in a report on Monday, April 28th. Pivotal Research increased their target price on shares of Netflix from $1,350.00 to $1,600.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Piper Sandler set a $1,150.00 target price on shares of Netflix and gave the company an "overweight" rating in a report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of "Moderate Buy" and an average target price of $1,182.58.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,179,614.58. This trade represents a 41.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Reed Hastings sold 26,977 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at $446,421.70. This trade represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,723 shares of company stock valued at $223,307,201. Corporate insiders own 1.37% of the company's stock.

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.