Blackston Financial Advisory Group LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Blackston Financial Advisory Group LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 627 shares of the Internet television network's stock, valued at approximately $585,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. West Michigan Advisors LLC increased its stake in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after purchasing an additional 10 shares in the last quarter. Warwick Investment Management Inc. boosted its holdings in shares of Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after buying an additional 10 shares during the period. MRP Capital Investments LLC increased its position in shares of Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after acquiring an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its holdings in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after acquiring an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. lifted its position 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 acquiring an additional 10 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Cletus R. Willems sold 298 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $35,972,180. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock worth $210,271,552 in the last quarter. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NFLX shares. Guggenheim reissued a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an "overweight" rating in a research report on Monday, April 21st. Barclays upped their price target on Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Canaccord Genuity Group raised their target price on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Morgan Stanley raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,156.73.

Netflix Stock Performance

Netflix stock opened at $1,225.35 on Tuesday. The stock has a 50-day simple moving average of $1,127.47 and a 200 day simple moving average of $1,003.32. The stock has a market capitalization of $521.47 billion, a price-to-earnings ratio of 61.79, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its 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 net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the firm posted $8.28 earnings per share. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.

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