Brown Wealth Management LLC Makes New $223,000 Investment in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Brown Wealth Management LLC has made a new investment of approximately $223,000 in Netflix, Inc., acquiring 239 shares in the first quarter.
• Insider trading activity includes the CFO and Director selling over 12,000 shares combined, significantly reducing their ownership percentages in the company.
• Analysts have set a consensus target price of $1,297.66 for Netflix, with ratings ranging from "strong buy" to "sell."

Brown Wealth Management LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 239 shares of the Internet television network's stock, valued at approximately $223,000.

Several other large investors have also modified their holdings of NFLX. Brighton Jones LLC boosted its holdings in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after acquiring an additional 144 shares during the period. BIP Wealth LLC raised its position in Netflix by 23.8% during the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after acquiring an additional 87 shares during the period. WINTON GROUP Ltd acquired a new position in Netflix during the fourth quarter worth $2,770,000. Finally, Sava Infond d.o.o. acquired a new stake in shares of Netflix in the fourth quarter valued at about $481,000. Institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 9,673 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at approximately $523,669.34. This represents a 96.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,923 shares of company stock valued at $222,445,095 over the last 90 days. 1.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the company an "outperform" rating in a research report on Friday, May 16th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Macquarie increased their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Rosenblatt Securities raised their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Trading Down 0.0%

Shares of Netflix stock opened at $1,180.49 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company's 50-day simple moving average is $1,236.44 and its 200-day simple moving average is $1,071.39. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59.

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