Insight Inv LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Insight Inv LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,884 shares of the Internet television network's stock, valued at approximately $12,015,000. Netflix comprises approximately 4.5% of Insight Inv LLC's investment portfolio, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in NFLX. MorganRosel Wealth Management LLC bought a new position in Netflix in the 1st quarter worth about $104,000. Valley National Advisers Inc. grew its holdings in shares of Netflix by 13.3% during the 1st quarter. Valley National Advisers Inc. now owns 111 shares of the Internet television network's stock valued at $103,000 after acquiring an additional 13 shares in the last quarter. Jacobsen Capital Management grew its position in Netflix by 2.2% in the first quarter. Jacobsen Capital Management now owns 687 shares of the Internet television network's stock worth $641,000 after acquiring an additional 15 shares in the last quarter. New Wave Wealth Advisors LLC boosted its holdings in Netflix by 83.6% in the first quarter. New Wave Wealth Advisors LLC now owns 3,221 shares of the Internet television network's stock worth $3,004,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Albion Financial Group UT increased its position in Netflix by 23.1% during the first quarter. Albion Financial Group UT now owns 80 shares of the Internet television network's stock worth $75,000 after buying an additional 15 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated 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 directly owns 3,691 shares of the company's stock, valued at $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares of the company's stock, valued at $362,933.10. The trade was a 98.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,280 shares of company stock worth $210,599,866. Insiders own 1.37% of the company's stock.

Netflix Stock Up 1.3%

NASDAQ:NFLX opened at $1,323.12 on Monday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,331.35. The firm has a market capitalization of $563.08 billion, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 2.56 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $1,183.25 and its two-hundred day moving average price is $1,024.87.

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

Analyst Ratings Changes

Several research firms recently weighed in on NFLX. Wells Fargo & Company boosted their target price on Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the stock an "overweight" rating in a research note on Monday, April 21st. Canaccord Genuity Group upped their price objective on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Rosenblatt Securities boosted their price objective on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average price target of $1,172.73.

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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