Johnson Financial Group LLC Acquires Shares of 221 Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Johnson Financial Group LLC has acquired 221 shares of Netflix, Inc. (NASDAQ:NFLX), valued at approximately $206,000, during the first quarter, as reported in their 13F filing with the SEC.
• Insider transactions included Director Reed Hastings selling 26,933 shares for over $32 million, resulting in a significant decrease in his ownership stake.
• Analysts have varied recommendations for NFLX, with Wedbush maintaining an "outperform" rating and a price target increase to $1,500, while the consensus rating remains at "Moderate Buy".

Johnson Financial Group LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 221 shares of the Internet television network's stock, valued at approximately $206,000.

Several other institutional investors have also added to or reduced their stakes in NFLX. Fullcircle Wealth LLC lifted its stake in Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. increased its position 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 purchasing an additional 10 shares in the last quarter. Continuum Wealth Advisors LLC increased its position in Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares in the last quarter. Financial Enhancement Group LLC increased its position in Netflix by 2.5% during the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after purchasing an additional 10 shares in the last quarter. Finally, Saxony Capital Management LLC increased its position in Netflix by 1.4% during the 1st quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Reed Hastings sold 26,933 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $477,394.04. This trade represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director owned 7,969 shares of the company's stock, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 150,226 shares of company stock valued at $183,849,784 over the last ninety days. 1.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on NFLX shares. Wedbush restated an "outperform" rating and issued a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Citigroup restated a "neutral" rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Morgan Stanley restated an "equal weight" rating on shares of Netflix in a research report on Monday, July 21st. JPMorgan Chase & Co. upped their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Finally, Jefferies Financial Group set a $1,500.00 price objective on shares of Netflix and gave the company a "buy" rating in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,211.64 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $514.86 billion, a PE ratio of 51.63, a P/E/G ratio of 1.99 and a beta of 1.59. Netflix, Inc. has a twelve month low of $622.99 and a twelve month high of $1,341.15. The company has a 50-day moving average price of $1,232.25 and a two-hundred day moving average price of $1,093.48.

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