Independent Solutions Wealth Management LLC Has $3.77 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Independent Solutions Wealth Management LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 92.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,046 shares of the Internet television network's stock after buying an additional 1,945 shares during the period. Independent Solutions Wealth Management LLC's holdings in Netflix were worth $3,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. West Michigan Advisors LLC raised its stake in shares of Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock valued at $692,000 after purchasing an additional 10 shares in the last quarter. Warwick Investment Management Inc. increased its holdings in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after buying an additional 10 shares during the last quarter. MRP Capital Investments LLC raised its stake in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after buying an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its stake in Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after buying an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. lifted its holdings in Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the sale, the director now directly owns 79,040 shares of the company's stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction on Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. Insiders sold a total of 185,280 shares of company stock valued at $210,599,866 over the last quarter. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Up 2.5%

NFLX traded up $31.42 during midday trading on Thursday, hitting $1,306.67. 2,601,963 shares of the company's stock traded hands, compared to its average volume of 3,739,282. The company has a market cap of $556.08 billion, a PE ratio of 61.75, a price-to-earnings-growth ratio of 2.47 and a beta of 1.59. The stock's fifty day simple moving average is $1,169.57 and its 200-day simple moving average is $1,018.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,307.49.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the previous year, the company posted $8.28 earnings per share. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NFLX. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Robert W. Baird increased their target price on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an "overweight" rating in a research report on Monday, April 21st. Barclays lifted their target price on Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Finally, Guggenheim restated a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,172.73.

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.