Foundations Investment Advisors LLC Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Foundations Investment Advisors LLC increased its stake in Netflix by 11.4%, now holding 4,601 shares worth approximately $4.29 million.
• Several institutional investors have also boosted their positions in Netflix, with Resurgent Financial Advisors LLC increasing its holdings by an impressive 234.4%.
• Netflix's recent quarterly earnings beat estimates, reporting $7.19 per share on revenue of $11.08 billion, marking a 15.9% increase compared to the previous year.

Foundations Investment Advisors LLC boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 11.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,601 shares of the Internet television network's stock after buying an additional 469 shares during the period. Foundations Investment Advisors LLC's holdings in Netflix were worth $4,290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the last quarter. BIP Wealth LLC grew its stake in Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after purchasing an additional 87 shares in the last quarter. Summit Securities Group LLC bought a new position in Netflix in the fourth quarter worth approximately $61,000. Finally, Physician Wealth Advisors Inc. bought a new stake in Netflix during the 4th quarter valued at $176,000. Institutional investors own 80.93% of the company's stock.

Netflix Stock Down 0.1%

NASDAQ:NFLX traded down $0.87 during trading hours on Friday, hitting $1,158.53. 2,317,632 shares of the company traded hands, compared to its average volume of 4,259,842. 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 firm's 50-day simple moving average is $1,234.85 and its 200-day simple moving average is $1,080.08. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company has a market cap of $492.29 billion, a PE ratio of 49.25, a PEG ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.88 EPS. Equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director owned 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Reed Hastings sold 9,673 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the sale, the director owned 394 shares in the company, valued at approximately $523,669.34. This trade represents a 96.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,830 shares of company stock worth $153,102,930 over the last ninety days. Corporate insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NFLX. Rosenblatt Securities raised their target price on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. BMO Capital Markets restated an "outperform" rating and issued a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Loop Capital reiterated a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.