Covestor Ltd Has $810,000 Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Covestor Ltd increased its stake in Netflix by 120.9% in Q1, purchasing an additional 475 shares and now holding a total of 868 shares valued at $810,000.
• Netflix reported a quarterly earnings of $7.19 per share, exceeding analyst estimates, with revenue reaching $11.08 billion, a 15.9% year-over-year increase.
• Insider sales included CFO Adam Neumann and CEO Gregory K. Peters selling a combined total of 2,711 shares, reflecting a decrease in their ownership by approximately 15.65% and 13.68%, respectively.

Covestor Ltd grew its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 120.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 868 shares of the Internet television network's stock after purchasing an additional 475 shares during the period. Netflix comprises about 0.5% of Covestor Ltd's holdings, making the stock its 14th largest position. Covestor Ltd's holdings in Netflix were worth $810,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the 4th quarter worth about $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the 4th quarter worth about $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its stake in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Up 2.6%

Shares of NASDAQ:NFLX opened at $1,211.64 on Friday. Netflix, Inc. has a 12-month low of $622.99 and a 12-month high of $1,341.15. The stock has a market cap of $514.86 billion, a PE ratio of 51.63, a P/E/G ratio of 1.99 and a beta of 1.59. The business has a 50 day moving average of $1,232.25 and a 200-day moving average of $1,093.48. 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 (NASDAQ:NFLX - Get Free Report) last issued 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. The business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.88 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 685 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total value of $795,428.85. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,226 shares of company stock valued at $183,849,784 in the last quarter. Company insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Loop Capital restated a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. KeyCorp increased their target price on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Wedbush restated an "outperform" rating and set a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Finally, Moffett Nathanson restated a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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