Bright Financial Advisors Inc. Takes $200,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Bright Financial Advisors Inc. has acquired a new position in Netflix, purchasing 215 shares valued at approximately $200,000 during the first quarter.
• Netflix insiders sold a total of 146,307 shares worth about $179.4 million in the last quarter, indicating significant movements among company executives.
• Analysts have set a varied range of price targets for Netflix, with the consensus price target currently at $1,297.66 and a rating of "Moderate Buy" based on 22 buy ratings and multiple target increases from firms like Sanford C. Bernstein and TD Cowen.

Bright Financial Advisors Inc. purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 215 shares of the Internet television network's stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its position in Netflix by 110,300.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,104 shares of the Internet television network's stock worth $1,030,000 after purchasing an additional 1,103 shares during the last quarter. S Bank Fund Management Ltd acquired a new position in Netflix during the first quarter worth approximately $7,813,000. National Pension Service increased its position in Netflix by 2.3% during the first quarter. National Pension Service now owns 869,235 shares of the Internet television network's stock worth $810,588,000 after purchasing an additional 19,397 shares during the last quarter. Klingman & Associates LLC grew its stake in Netflix by 6.0% during the first quarter. Klingman & Associates LLC now owns 1,222 shares of the Internet television network's stock worth $1,140,000 after buying an additional 69 shares during the period. Finally, Dagco Inc. purchased a new stake in Netflix during the first quarter worth approximately $105,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director owned 63,040 shares of the company's stock, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,307 shares of company stock worth $179,443,809. Company insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Sanford C. Bernstein upped their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Morgan Stanley restated an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. TD Cowen upped their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Performance

Shares of NFLX opened at $1,225.28 on Wednesday. The firm has a 50-day moving average price of $1,232.39 and a 200 day moving average price of $1,097.79. The firm has a market capitalization of $520.66 billion, a PE ratio of 52.21, a P/E/G ratio of 2.05 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52-week low of $635.50 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $4.88 EPS. The business's revenue for the quarter was up 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.

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