Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management LLC significantly increased its holdings in Netflix, Inc. by 185.2% during the first quarter, owning 850 shares valued at approximately $793,000 at the quarter's end.
• Netflix reported impressive quarterly earnings, with $7.19 EPS and revenues of $11.08 billion, surpassing analyst expectations and marking a 15.9% year-over-year growth.
• Institutional investors hold 80.93% of Netflix's stock, indicating significant institutional confidence in the company's performance.

Maridea Wealth Management LLC increased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 185.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 850 shares of the Internet television network's stock after acquiring an additional 552 shares during the period. Maridea Wealth Management LLC's holdings in Netflix were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC grew its position in shares of Netflix by 100.0% during the 1st 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 period. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management acquired a new stake in shares of Netflix during the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. grew its position in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NFLX shares. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Guggenheim reiterated a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Barclays reiterated a "sell" rating and issued a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. TD Cowen lifted their price objective on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Rosenblatt Securities lifted their price objective on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 9,673 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at approximately $523,669.34. This represents a 96.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,830 shares of company stock valued at $153,102,930. 1.37% of the stock is owned by insiders.

Netflix Stock Performance

NASDAQ NFLX traded down $9.21 during trading hours on Thursday, hitting $1,174.99. The company had a trading volume of 1,793,392 shares, compared to its average volume of 4,259,887. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15. The company has a market cap of $499.29 billion, a PE ratio of 50.09, a price-to-earnings-growth ratio of 1.97 and a beta of 1.59. The business has a 50 day moving average of $1,235.42 and a 200-day moving average of $1,077.88.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results 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 net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the prior year, the company earned $4.88 earnings per share. The business's revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.