Hobbs Wealth Management LLC Takes $207,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Hobbs Wealth Management LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 222 shares of the Internet television network's stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC lifted its position in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the 4th quarter worth approximately $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the 4th quarter worth approximately $32,000. Copia Wealth Management acquired a new stake in Netflix in the 4th quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. increased its stake in shares of Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NFLX shares. Benchmark restated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Wells Fargo & Company increased their price target on Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Canaccord Genuity Group increased their price target on Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 620 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,280 shares of company stock valued at $210,599,866. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of NFLX opened at $1,323.12 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a 50-day moving average of $1,183.25 and a 200-day moving average of $1,024.18. The company has a market cap of $563.08 billion, a PE ratio of 62.53, a P/E/G ratio of 2.56 and a beta of 1.59. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,331.35.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the previous year, the business earned $8.28 EPS. On average, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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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