Canvas Wealth Advisors LLC Acquires 252 Shares of Netflix, Inc. (NASDAQ:NFLX)

Canvas Wealth Advisors LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 44.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 818 shares of the Internet television network's stock after buying an additional 252 shares during the quarter. Canvas Wealth Advisors LLC's holdings in Netflix were worth $763,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in shares of Netflix by 8.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after buying an additional 110,432 shares during the last quarter. PharVision Advisers LLC purchased a new position in Netflix in the fourth quarter valued at approximately $873,000. New England Research & Management Inc. grew its holdings in Netflix by 148.5% during the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after purchasing an additional 1,268 shares during the period. First National Trust Co increased its position in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock worth $1,121,000 after buying an additional 12 shares during the last quarter. Finally, Haven Private LLC purchased a new position in shares of Netflix during the 4th quarter valued at $733,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Netflix stock opened at $1,306.67 on Friday. The firm has a market cap of $556.08 billion, a P/E ratio of 61.75, a P/E/G ratio of 2.47 and a beta of 1.59. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,314.84. The firm has a 50-day moving average of $1,176.24 and a 200-day moving average of $1,020.75. 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 released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the business posted $8.28 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of research reports. Evercore ISI restated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Guggenheim reaffirmed a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Oppenheimer boosted their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Finally, Piper Sandler set a $1,150.00 target price on Netflix and gave the stock an "overweight" rating in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,172.73.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director now directly owns 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,280 shares of company stock worth $210,599,866 in the last quarter. 1.37% of the stock is owned by company insiders.

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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