Earned Wealth Advisors LLC Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Earned Wealth Advisors LLC increased its stake in Netflix, Inc. by 219.0% during the 1st quarter, owning 1,257 shares valued at $1,173,000.
• Netflix's recent earnings report showed a revenue of $11.08 billion, surpassing analyst expectations, leading to a 15.9% year-over-year growth.
• Wall Street analysts have mixed ratings on Netflix, with a consensus price target of $1,297.66 and various firms adjusting their price objectives recently.

Earned Wealth Advisors LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 219.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,257 shares of the Internet television network's stock after buying an additional 863 shares during the quarter. Earned Wealth Advisors LLC's holdings in Netflix were worth $1,173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC increased its holdings in 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 purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in Netflix during the 4th quarter worth $27,000. Transce3nd LLC purchased a new position in Netflix during the 4th quarter worth $32,000. Copia Wealth Management purchased a new position in Netflix during the 4th quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Netflix during the 1st quarter worth $42,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of Netflix stock opened at $1,158.60 on Friday. 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 twelve month low of $587.04 and a twelve month high of $1,341.15. The business has a 50-day moving average price of $1,234.32 and a 200 day moving average price of $1,083.98. The firm has a market cap of $492.32 billion, a PE ratio of 49.37, a P/E/G ratio of 1.95 and a beta of 1.59.

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 for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the business earned $4.88 EPS. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. The Goldman Sachs Group raised their price objective on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Needham & Company LLC restated a "buy" rating and set a $1,500.00 price objective on shares of Netflix in a report on Friday, July 18th. UBS Group reaffirmed a "market underperform" rating on shares of Netflix in a research report on Saturday, July 19th. Barclays reaffirmed a "sell" rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Bank of America increased their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Activity at Netflix

In other news, Director Reed Hastings sold 9,673 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 in the company, valued at $523,669.34. This represents a 96.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Strive Masiyiwa sold 290 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders sold 123,830 shares of company stock worth $153,102,930 in the last quarter. Corporate insiders own 1.37% of the company's stock.

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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