Elk River Wealth Management LLC Purchases Shares of 42,089 Netflix, Inc. $NFLX

Key Points

• Elk River Wealth Management LLC bought a new stake in Netflix during the first quarter, purchasing 42,089 shares valued at about $4.05 million.
• Netflix insiders have been selling stock recently, including CEO Gregory K. Peters and insider David A. Hyman, while 1.24% of the company is currently owned by corporate insiders.
• Netflix stock was trading down 5.8% at $72.88, even though the company recently beat quarterly earnings estimates and posted 16.2% revenue growth year over year.

Elk River Wealth Management LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,089 shares of the Internet television network's stock, valued at approximately $4,047,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Financial Corp IN grew its stake in shares of Netflix by 900.0% during the 4th quarter. First Financial Corp IN now owns 270 shares of the Internet television network's stock worth $25,000 after acquiring an additional 243 shares in the last quarter. DiNuzzo Private Wealth Inc. lifted its position in shares of Netflix by 885.2% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network's stock worth $25,000 after purchasing an additional 239 shares in the last quarter. Turning Point Benefit Group Inc. boosted its holdings in Netflix by 13,400.0% during the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network's stock worth $25,000 after purchasing an additional 268 shares during the last quarter. Imprint Wealth LLC acquired a new position in Netflix during the third quarter worth $25,000. Finally, Cornerstone Financial Management LLC bought a new position in Netflix in the fourth quarter valued at $26,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $88.69, for a total transaction of $2,422,301.28. Following the completion of the transaction, the chief executive officer directly owned 120,931 shares of the company's stock, valued at $10,725,370.39. The trade was a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 5,722 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total transaction of $503,993.76. Following the completion of the transaction, the insider owned 316,100 shares in the company, valued at approximately $27,842,088. This represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,349,019 shares of company stock worth $123,105,721. 1.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NFLX shares. DZ Bank reiterated a "buy" rating on shares of Netflix in a research note on Friday, April 17th. Cfra upgraded Netflix from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a report on Friday, March 6th. Phillip Securities lifted their target price on Netflix from $100.00 to $110.00 in a research report on Monday, April 20th. The Goldman Sachs Group lowered Netflix from a "neutral" rating to an "underweight" rating in a report on Thursday. Finally, Arete Research raised Netflix from a "neutral" rating to a "buy" rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.26.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix expanded its video podcast partnership with iHeartMedia, adding more iHeartPodcasts as video shows on the platform and strengthening its content offering. Netflix Expands Video Podcast Partnership with iHeartMedia
• Positive Sentiment: Netflix bought a “Hot Ones” spinoff, a content deal that reinforces its rivalry with YouTube and supports its push into popular creator-driven programming. Netflix Buys a ‘Hot Ones’ Spinoff
• Neutral Sentiment: Some commentary argues Netflix may look undervalued after the recent selloff, with analysts still seeing upside if the business continues to execute. Is Netflix Inc (NFLX) a Bargain After 5.8% Drop? GF Value Says Undervalued
• Negative Sentiment: Investor sentiment was hurt by reports that Netflix was outbid or passed over on major acquisition targets, fueling concern that the company is missing strategic growth opportunities. After Missing Out on Roku, Netflix Claims It Won't Buy Lionsgate. Here's Why the Market Hates That Answer.
• Negative Sentiment: Analysts and market commentators warned against “catching the falling knife,” reflecting concern that NFLX could remain under pressure after breaking to new lows. Netflix Stock Slump Continues: Citizens JMP Warns Against Catching the Falling Knife

Netflix Trading Down 5.8%

Shares of NASDAQ:NFLX opened at $72.88 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.41 and a current ratio of 1.41. The company has a 50-day simple moving average of $88.30 and a 200 day simple moving average of $89.75. The company has a market capitalization of $306.88 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50. Netflix, Inc. has a 52-week low of $71.81 and a 52-week high of $134.12.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 16th. The Internet television network reported $1.23 EPS for the quarter, topping the consensus estimate of $0.76 by $0.47. The company had revenue of $12.25 billion during the quarter, compared to the consensus estimate of $12.17 billion. Netflix had a return on equity of 40.92% and a net margin of 28.52%.The firm's revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company posted $6.61 EPS. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. Sell-side analysts forecast that Netflix, Inc. will post 3.6 earnings per share for the current year.

About Netflix

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company's primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.