Cetera Investment Advisers Has $82.60 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Cetera Investment Advisers increased its stake in Netflix by 13.8%, acquiring an additional 10,725 shares, bringing its total holdings to 88,576 shares worth $82.6 million.
• Netflix reported a quarterly earnings per share (EPS) of $7.19, exceeding analysts' expectations of $7.07, with revenue of $11.08 billion, up 15.9% year-over-year.
• Institutional investors own 80.93% of Netflix's stock, reflecting strong interest from significant financial entities in the company.

Cetera Investment Advisers lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,576 shares of the Internet television network's stock after buying an additional 10,725 shares during the quarter. Cetera Investment Advisers' holdings in Netflix were worth $82,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC increased 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 valued at $4,804,000 after buying an additional 257 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares in the last quarter. BIP Wealth LLC increased its position in Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Netflix in the 4th quarter valued at about $2,770,000. Finally, Sava Infond d.o.o. bought a new stake in shares of Netflix in the 4th quarter valued at about $481,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In other Netflix news, Director Reed Hastings sold 9,673 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,923 shares of company stock valued at $222,445,095. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Down 0.0%

Shares of NFLX traded down $0.27 during mid-day trading on Friday, reaching $1,180.49. 2,624,404 shares of the stock traded hands, compared to its average volume of 3,928,007. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. 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 firm has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a P/E/G ratio of 1.99 and a beta of 1.59. The stock has a fifty day simple moving average of $1,236.44 and a 200 day simple moving average of $1,072.76.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) 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 the consensus estimate of $11.04 billion. During the same quarter in the previous year, the company posted $4.88 earnings per share. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on NFLX. Loop Capital reissued a "hold" rating on shares of Netflix in a research report on Tuesday, July 15th. Guggenheim reissued a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Citigroup reaffirmed a "neutral" rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix 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.