Commonwealth Equity Services LLC Has $163.24 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Commonwealth Equity Services LLC has increased its Netflix holdings to $163.24 million, acquiring an additional 26,803 shares in the first quarter, resulting in a total of 175,050 shares.
• Significant institutional investor activity includes FMR LLC purchasing 375,234 shares and GAMMA Investing LLC boosting its stake by over 109,000%, revealing increasing confidence in Netflix's future.
• Analysts have adjusted their price targets for Netflix, with Wells Fargo increasing theirs to $1,560, while ratings vary, showing a mix of optimism and caution among investment analysts.

Commonwealth Equity Services LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 18.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,050 shares of the Internet television network's stock after acquiring an additional 26,803 shares during the period. Commonwealth Equity Services LLC's holdings in Netflix were worth $163,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. FMR LLC boosted its position in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after acquiring an additional 375,234 shares in the last quarter. GAMMA Investing LLC lifted its stake in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Northern Trust Corp lifted its stake in Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after purchasing an additional 570,674 shares during the last quarter. Invesco Ltd. lifted its stake in Netflix by 2.9% in the 4th quarter. Invesco Ltd. now owns 4,308,201 shares of the Internet television network's stock valued at $3,839,986,000 after purchasing an additional 119,787 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Netflix by 42.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,387,159 shares of the Internet television network's stock valued at $1,293,567,000 after purchasing an additional 410,235 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on NFLX. Wells Fargo & Company increased their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. The Goldman Sachs Group increased their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. UBS Group reissued a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Piper Sandler increased their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 620 shares of Netflix stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. In the last three months, insiders sold 123,830 shares of company stock valued at $153,102,930. 1.37% of the stock is currently owned by corporate insiders.

Netflix Trading Down 0.1%

NASDAQ:NFLX opened at $1,158.60 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $492.32 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 1.95 and a beta of 1.59. The firm has a fifty day simple moving average of $1,234.32 and a two-hundred day simple moving average of $1,083.98. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the company posted $4.88 earnings per share. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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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