Kingsview Wealth Management LLC Purchases 3,938 Shares of Netflix, Inc. (NASDAQ:NFLX)

Kingsview Wealth Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,632 shares of the Internet television network's stock after buying an additional 3,938 shares during the period. Netflix makes up about 0.9% of Kingsview Wealth Management LLC's investment portfolio, making the stock its 22nd biggest position. Kingsview Wealth Management LLC's holdings in Netflix were worth $49,081,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC increased its stake in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares in the last quarter. BIP Wealth LLC increased its stake in Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Netflix by 39.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock valued at $1,926,000 after purchasing an additional 607 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in Netflix by 9.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 438 shares of the Internet television network's stock valued at $390,000 after purchasing an additional 39 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $64.93 during mid-day trading on Friday, reaching $1,209.24. 10,678,762 shares of the company were exchanged, compared to its average volume of 3,802,076. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The stock has a market capitalization of $514.62 billion, a P/E ratio of 57.15, a P/E/G ratio of 2.26 and a beta of 1.59. The company's 50-day simple moving average is $1,231.20 and its 200-day simple moving average is $1,058.57. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm earned $4.88 earnings per share. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director directly owned 79,040 shares in the company, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock valued at $223,307,201 in the last three months. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent analyst reports. Sanford C. Bernstein upped their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday. TD Cowen increased their price objective on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Friday. FBN Securities started coverage on shares of Netflix in a research report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,275.30.

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.