Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,279 shares of the Internet television network's stock after acquiring an additional 568 shares during the period. Netflix comprises about 3.1% of Precision Wealth Strategies LLC's holdings, making the stock its 9th biggest position. Precision Wealth Strategies LLC's holdings in Netflix were worth $3,990,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital & Planning LLC acquired a new position in shares of Netflix during the 4th quarter worth approximately $809,000. Brighton Jones LLC raised its position in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Netflix during the 4th quarter worth approximately $12,212,000. Revolve Wealth Partners LLC raised its position in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares during the last quarter. Finally, Spinnaker Trust acquired a new position in shares of Netflix during the 4th quarter worth approximately $223,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. JPMorgan Chase & Co. restated a "neutral" rating and set a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. KeyCorp boosted their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Bank of America boosted their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. BMO Capital Markets reiterated an "outperform" rating and issued a $1,200.00 price target (up from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Finally, Loop Capital reiterated a "hold" rating on shares of Netflix in a report on Monday, March 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,156.73.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $1,212.15 on Monday. The firm has a market cap of $515.86 billion, a PE ratio of 61.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The firm's 50-day simple moving average is $1,120.37 and its 200-day simple moving average is $1,000.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the prior year, the business posted $8.28 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company 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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