Exchange Traded Concepts LLC Acquires 2,154 Shares of Netflix, Inc. (NASDAQ:NFLX)

Exchange Traded Concepts LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 14.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,737 shares of the Internet television network's stock after purchasing an additional 2,154 shares during the quarter. Exchange Traded Concepts LLC's holdings in Netflix were worth $15,608,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in Netflix during the 4th quarter valued at $32,000. Copia Wealth Management bought a new position in Netflix during the 4th quarter valued at $37,000. Stuart Chaussee & Associates Inc. increased its position 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 valued at $41,000 after purchasing an additional 45 shares during the period. Finally, NewSquare Capital LLC raised its stake in shares of Netflix by 120.0% in the 4th quarter. NewSquare Capital LLC now owns 55 shares of the Internet television network's stock worth $49,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock worth $210,271,552 in the last 90 days. 1.37% of the stock is owned by insiders.

Netflix Stock Down 0.2%

NASDAQ NFLX traded down $2.88 on Friday, reaching $1,212.15. The stock had a trading volume of 2,209,188 shares, compared to its average volume of 3,761,170. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The business has a 50 day moving average price of $1,120.37 and a 200 day moving average price of $1,000.10. The company has a market capitalization of $515.86 billion, a price-to-earnings ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the company earned $8.28 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $1,200.00 target price on shares of Netflix in a research note on Monday, May 5th. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an "overweight" rating in a research report on Monday, April 21st. Wells Fargo & Company lifted their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. JPMorgan Chase & Co. reissued a "neutral" rating and set a $1,220.00 target price (up from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Finally, Oppenheimer raised their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,156.73.

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.