Phoenix Financial Ltd. Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Phoenix Financial Ltd. increased its stake in Netflix by 64.7% during the first quarter, now holding 13,865 shares valued at approximately $12.96 million.
• Insiders sold 185,923 shares of Netflix stock valued at over $222 million in the past 90 days, indicating significant trading activity within the company.
• Analysts maintain a consensus rating of "Moderate Buy" on Netflix, with price targets increasing to a range between $1,425 and $1,500.

Phoenix Financial Ltd. raised its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 64.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,865 shares of the Internet television network's stock after purchasing an additional 5,446 shares during the quarter. Phoenix Financial Ltd.'s holdings in Netflix were worth $12,964,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC grew its stake in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the 4th quarter worth approximately $32,000. Copia Wealth Management purchased a new position in Netflix in the fourth quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Netflix in the first quarter valued at about $42,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of Netflix stock traded down $0.27 during trading on Friday, hitting $1,180.49. 2,624,404 shares of the company's stock traded hands, compared to its average volume of 3,928,007. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The stock has a market capitalization of $501.63 billion, a P/E ratio of 50.30, a PEG ratio of 1.99 and a beta of 1.59. The business has a 50-day simple moving average of $1,236.44 and a 200-day simple moving average of $1,071.39.

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

Analysts Set New Price Targets

NFLX has been the topic of several recent research reports. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Cfra Research raised Netflix to a "strong-buy" rating in a report on Monday, April 28th. BMO Capital Markets restated an "outperform" rating and set a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Pivotal Research reissued a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the sale, the director owned 79,040 shares of the company's stock, valued at $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at $446,421.70. The trade was a 98.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,923 shares of company stock valued at $222,445,095. Corporate insiders own 1.37% of the company's stock.

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.