Nations Financial Group Inc. IA ADV Purchases 2,390 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Nations Financial Group Inc. IA ADV increased its stake in Netflix by 146.8% during the 1st quarter, now holding a total of 4,018 shares valued at approximately $3.75 million.
• Wall Street analysts show confidence in Netflix with 22 buy ratings and a target price of $1,297.66, despite some mixed reviews from other firms.
• Insider transactions included the CFO selling 2,601 shares for over $3.4 million, showcasing a significant 41.34% reduction in their position.

Nations Financial Group Inc. IA ADV lifted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 146.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,018 shares of the Internet television network's stock after purchasing an additional 2,390 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Netflix were worth $3,747,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fullcircle Wealth LLC grew its holdings in Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after acquiring an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. grew its holdings 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 acquiring an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC grew its holdings 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 acquiring an additional 10 shares during the last quarter. Financial Enhancement Group LLC grew its holdings 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 acquiring an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC lifted 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 valued at $659,000 after purchasing an additional 10 shares during the period. Institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NFLX. Guggenheim restated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Piper Sandler upped their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the company an "outperform" rating in a research report on Friday, May 16th. Phillip Securities downgraded shares of Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Finally, Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,824,949.02. The trade was a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on 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 sale, the director owned 63,040 shares in the company, 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. Insiders have sold 146,307 shares of company stock valued at $179,443,809 in the last 90 days. 1.37% of the stock is currently owned by company insiders.

Netflix Price Performance

Shares of NFLX opened at $1,230.56 on Friday. Netflix, Inc. has a 12-month low of $659.80 and a 12-month high of $1,341.15. The business's fifty day moving average is $1,231.28 and its 200 day moving average is $1,100.31. 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 stock has a market cap of $522.90 billion, a P/E ratio of 52.43, a P/E/G ratio of 2.03 and a beta of 1.59.

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 (EPS) for the quarter, topping 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 company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same period last year, the business earned $4.88 EPS. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.

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