Colonial Trust Advisors Acquires 1,496 Shares of Netflix, Inc. $NFLX

Key Points

• Colonial Trust Advisors increased its ownership of Netflix, Inc. shares by 82.7% during the first quarter, acquiring an additional 1,496 shares and bringing its total holdings to 3,305 shares worth approximately $3,082,000.
• Several hedge funds have also adjusted their investments in Netflix recently, with institutional investors collectively owning 80.93% of the company's stock.
• Directors Reed Hastings and Jay C. Hoag sold significant portions of their Netflix shares, with Hastings' transaction resulting in a 98.56% decrease in his holdings.

Colonial Trust Advisors raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 82.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,305 shares of the Internet television network's stock after acquiring an additional 1,496 shares during the quarter. Colonial Trust Advisors' holdings in Netflix were worth $3,082,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fullcircle Wealth LLC grew its holdings in shares of Netflix by 2.5% in the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after acquiring an additional 9 shares in the last quarter. Mission Creek Capital Partners Inc. increased its position in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC increased its position in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares during the last quarter. Financial Enhancement Group LLC grew its stake in shares of Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after buying an additional 10 shares in the last quarter. Finally, Saxony Capital Management LLC grew its stake in shares of Netflix by 1.4% in the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock valued at $659,000 after buying an additional 10 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity

In other Netflix news, Director Reed Hastings sold 26,933 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $477,394.04. This trade represents a 98.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock worth $179,443,809 in the last 90 days. 1.37% of the stock is owned by company insiders.

Netflix Stock Up 0.5%

Shares of NASDAQ:NFLX opened at $1,245.09 on Tuesday. The firm has a market cap of $529.08 billion, a P/E ratio of 53.05, a P/E/G ratio of 2.09 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 12-month low of $660.80 and a 12-month high of $1,341.15. The business has a fifty day simple moving average of $1,231.65 and a 200 day simple moving average of $1,105.79.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the company earned $4.88 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Netflix from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Oppenheimer lifted their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Piper Sandler lifted their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Needham & Company LLC restated a "buy" rating and issued a $1,500.00 price target on shares of Netflix in a research note on Friday, July 18th. Finally, Morgan Stanley restated an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Netflix has a consensus 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.

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