Liberty Wealth Management LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Liberty Wealth Management LLC dramatically increased its stake in Netflix by 8,332.6% in the first quarter, owning 44,271 shares worth about $418,000 after purchasing an additional 43,746 shares.
• Netflix recently reported an EPS of $7.19 for the quarter, surpassing analysts' expectations, with a revenue of $11.08 billion indicating a 15.9% year-over-year growth.
• In the last 90 days, corporate insiders have sold 123,830 shares of Netflix, valued at approximately $153 million, indicating significant insider trading activity.

Liberty Wealth Management LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8,332.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,271 shares of the Internet television network's stock after purchasing an additional 43,746 shares during the period. Liberty Wealth Management LLC's holdings in Netflix were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC acquired a new position in Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management acquired a new position in Netflix in the fourth quarter valued at approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Netflix in the first quarter valued at approximately $42,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Down 0.1%

NFLX opened at $1,158.60 on Monday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company has a market cap of $492.32 billion, a P/E ratio of 49.37, a PEG ratio of 1.95 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The business's 50-day simple moving average is $1,234.32 and its 200-day simple moving average is $1,085.67.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the business posted $4.88 EPS. The business's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,830 shares of company stock valued at $153,102,930. Corporate insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NFLX shares. TD Cowen upped their price objective on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company upped their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. The Goldman Sachs Group upped their price target on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, BMO Capital Markets restated an "outperform" rating and set a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.