Granite Harbor Advisors Inc. Takes $214,000 Position in Netflix, Inc. $NFLX

Key Points

• Granite Harbor Advisors Inc. has established a new position in Netflix, purchasing 229 shares valued at approximately $214,000 in the first quarter.
• Institutional investors now own 80.93% of Netflix's stock, with significant increases in holdings from companies like Brooklyn Investment Group and Versor Investments LP.
• Netflix reported $7.19 earnings per share for the quarter, outperforming estimates and achieving a 15.9% year-over-year revenue growth.

Granite Harbor Advisors Inc. purchased a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 229 shares of the Internet television network's stock, valued at approximately $214,000.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group increased its holdings in Netflix by 50.3% in the first quarter. Brooklyn Investment Group now owns 4,709 shares of the Internet television network's stock worth $4,391,000 after buying an additional 1,576 shares during the last quarter. Keystone Global Partners LLC acquired a new position in shares of Netflix during the 1st quarter worth $56,000. Versor Investments LP raised its holdings in shares of Netflix by 53.3% during the 1st quarter. Versor Investments LP now owns 2,570 shares of the Internet television network's stock valued at $2,397,000 after purchasing an additional 894 shares in the last quarter. FCG Investment Co raised its holdings in shares of Netflix by 11.9% during the 1st quarter. FCG Investment Co now owns 2,602 shares of the Internet television network's stock valued at $2,426,000 after purchasing an additional 277 shares in the last quarter. Finally, Freestone Capital Holdings LLC lifted its stake in shares of Netflix by 2.2% in the 1st quarter. Freestone Capital Holdings LLC now owns 8,985 shares of the Internet television network's stock valued at $8,379,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,238.95 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50 day moving average price of $1,231.23 and a 200 day moving average price of $1,103.91. The stock has a market capitalization of $526.46 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59. Netflix, Inc. has a 52 week low of $660.80 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period last year, the business earned $4.88 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Cletus R. Willems sold 238 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 424 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the transaction, the insider owned 31,610 shares in the company, valued at approximately $36,625,558.70. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,307 shares of company stock worth $179,443,809 in the last quarter. Company insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Benchmark reissued a "hold" rating on shares of Netflix in a research report on Monday, April 21st. The Goldman Sachs Group raised their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. 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 report on Friday, July 18th. Wedbush reiterated an "outperform" rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Finally, Oppenheimer boosted their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix 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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