Independent Advisor Alliance Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Independent Advisor Alliance increased its stake in Netflix, raising its position by 9.3% during the first quarter, bringing its total holdings to 26,720 shares valued at approximately $24.9 million.
• Netflix's recent earnings report showed earnings per share of $7.19, surpassing expectations, with a year-over-year revenue growth of 15.9%, totaling $11.08 billion.
• Insider trading activity was noted, with director Jay C. Hoag selling 31,750 shares, resulting in a 33.5% reduction in his ownership, while the company maintains a strong institutional ownership of 80.93%.

Independent Advisor Alliance lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,720 shares of the Internet television network's stock after buying an additional 2,270 shares during the period. Netflix comprises 0.8% of Independent Advisor Alliance's investment portfolio, making the stock its 22nd largest position. Independent Advisor Alliance's holdings in Netflix were worth $24,917,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC raised its holdings in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC purchased a new position in shares of Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management purchased a new position in shares of Netflix during the 4th quarter valued at about $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Netflix during the 1st quarter valued at about $42,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 2.6%

Shares of NASDAQ:NFLX opened at $1,211.64 on Monday. Netflix, Inc. has a 12-month low of $622.99 and a 12-month high of $1,341.15. The stock has a fifty day simple moving average of $1,232.25 and a two-hundred day simple moving average of $1,095.21. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $514.86 billion, a price-to-earnings ratio of 51.63, a PEG ratio of 2.04 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm 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 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director owned 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters 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 $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. This represents a 13.68% 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 over the last three months. Company insiders own 1.37% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Seaport Res Ptn lowered Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. JPMorgan Chase & Co. raised their price target on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Guggenheim restated a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Cfra Research upgraded Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Moffett Nathanson restated a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average target price 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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