Netflix, Inc. $NFLX Shares Purchased by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group increased its stake in Netflix by 50.3%, acquiring an additional 1,576 shares, bringing its total holdings to 4,709 shares valued at approximately $4.39 million.
• Netflix recently reported earnings of $7.19 per share, surpassing analysts' expectations, along with a revenue of $11.08 billion for the quarter, reflecting a 15.9% rise year-over-year.
• Insider selling activity was notable, with Director Jay C. Hoag selling 31,750 shares, marking a 33.5% decrease in ownership, indicating potential shifts in confidence among executives.

Brooklyn Investment Group boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 50.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,709 shares of the Internet television network's stock after purchasing an additional 1,576 shares during the quarter. Netflix comprises about 0.9% of Brooklyn Investment Group's portfolio, making the stock its 16th biggest position. Brooklyn Investment Group's holdings in Netflix were worth $4,391,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC boosted its position in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC purchased a new position in shares of Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management purchased a new position in shares of Netflix during the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. raised its stake in shares of Netflix by 4,500.0% during the 4th 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 during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Netflix Price Performance

Shares of NFLX stock traded up $6.14 during trading hours on Monday, reaching $1,245.09. The company had a trading volume of 2,105,084 shares, compared to its average volume of 3,364,073. Netflix, Inc. has a 12-month low of $660.80 and a 12-month high of $1,341.15. The company has a market capitalization of $529.08 billion, a price-to-earnings ratio of 53.05, a PEG ratio of 2.09 and a beta of 1.59. The stock has a fifty day moving average of $1,231.65 and a 200-day moving average of $1,105.79. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on NFLX shares. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. BMO Capital Markets reiterated an "outperform" rating and set a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. UBS Group restated a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Pivotal Research restated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Netflix in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,297.66.

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.