Forvis Mazars Wealth Advisors LLC Grows Position in Netflix, Inc. $NFLX

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in Netflix by 76.7% during the 2nd quarter, now holding shares valued at approximately $3.46 million.
• Netflix reported earnings of $7.19 EPS for the last quarter, exceeding analysts' expectations and marking a 15.9% year-over-year revenue growth.
• The stock's current market cap is $509.64 billion, with a consensus target price set at $1,339.81, indicating a Moderate Buy rating among analysts.

Forvis Mazars Wealth Advisors LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 76.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,583 shares of the Internet television network's stock after buying an additional 1,121 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in Netflix were worth $3,459,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stephens Consulting LLC grew its holdings in Netflix by 150.0% during the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock valued at $33,000 after buying an additional 15 shares in the last quarter. Maseco LLP purchased a new position in Netflix during the 2nd quarter valued at approximately $39,000. Ransom Advisory Ltd purchased a new position in Netflix during the 2nd quarter valued at approximately $47,000. Flaharty Asset Management LLC purchased a new position in Netflix during the 1st quarter valued at approximately $37,000. Finally, Signature Resources Capital Management LLC grew its holdings in Netflix by 740.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 42 shares of the Internet television network's stock valued at $56,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Price Performance

NFLX opened at $1,199.36 on Friday. The business has a fifty day moving average of $1,213.47 and a 200 day moving average of $1,177.58. Netflix, Inc. has a 52-week low of $736.23 and a 52-week high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market cap of $509.64 billion, a P/E ratio of 51.10, a PEG ratio of 2.02 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the business earned $4.88 EPS. Netflix's revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NFLX shares. The Goldman Sachs Group dropped their target price on Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating for the company in a report on Tuesday, September 30th. Seaport Res Ptn raised Netflix from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Sanford C. Bernstein reissued a "buy" rating on shares of Netflix in a research report on Friday. Itau BBA Securities assumed coverage on Netflix in a research report on Tuesday, October 7th. They set an "outperform" rating and a $1,514.00 target price on the stock. Finally, Robert W. Baird boosted their target price on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,339.81.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the transaction, the chief executive officer owned 15,168 shares in the company, valued at $17,604,284.16. The trade was a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reed Hastings sold 42,176 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the transaction, the director owned 394 shares of the company's stock, valued at approximately $461,736.48. The trade was a 99.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock worth $122,710,980 over the last quarter. 1.37% of the stock is owned by insiders.

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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