EverSource Wealth Advisors LLC Acquires 665 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• EverSource Wealth Advisors LLC increased its holdings in Netflix, acquiring an additional 665 shares, bringing their total to 5,110 shares valued at approximately $4.77 million.
• Netflix reported $7.19 EPS for the last quarter, exceeding analyst expectations of $7.07, with a revenue of $11.08 billion—up 15.9% from the same quarter last year.
• Analysts have varying ratings for Netflix, with most recent targets ranging from $1,425.00 to $1,500.00, reflecting a consensus rating of "Moderate Buy."

EverSource Wealth Advisors LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,110 shares of the Internet television network's stock after purchasing an additional 665 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Netflix were worth $4,766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC raised its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC purchased a new stake in Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management acquired a new position in Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,230.56 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. Netflix, Inc. has a 1-year low of $659.80 and a 1-year high of $1,341.15. The business has a 50-day moving average of $1,231.28 and a 200-day moving average of $1,100.31. The company has a market capitalization of $522.90 billion, a price-to-earnings ratio of 52.43, a PEG ratio of 2.03 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping 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 business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the firm posted $4.88 earnings per share. The company's revenue was up 15.9% compared to the same quarter last year. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets reissued an "outperform" rating and issued a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 target price on shares of Netflix in a research note on Friday, July 18th. Piper Sandler upped their target price on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Wedbush reiterated an "outperform" rating and set a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 685 shares of the company'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 transaction of $795,428.85. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,286,026.11. This represents a 15.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock valued at $179,443,809 over the last three months. Company insiders own 1.37% of the company's stock.

About Netflix

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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