Virtu Financial LLC Has $34.91 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Virtu Financial LLC increased its stake in Netflix by 114.3%, owning 37,434 shares valued at approximately $34.9 million, making it the firm's third-largest holding.
• Several institutional investors, including Halbert Hargrove Global Advisors, have also increased their positions in Netflix, contributing to 80.93% of the stock being held by institutional investors.
• Netflix recently reported earnings of $7.19 EPS for the last quarter, exceeding estimates, with revenues of $11.08 billion up 15.9% year-over-year.

Virtu Financial LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 114.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,434 shares of the Internet television network's stock after purchasing an additional 19,965 shares during the period. Netflix makes up approximately 1.9% of Virtu Financial LLC's investment portfolio, making the stock its 3rd biggest position. Virtu Financial LLC's holdings in Netflix were worth $34,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fullcircle Wealth LLC raised its position in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after buying an additional 9 shares in the last quarter. Mission Creek Capital Partners Inc. raised its holdings in Netflix by 0.3% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after buying an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC grew its position in Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares during the period. Financial Enhancement Group LLC boosted its position in shares of Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after purchasing an additional 10 shares during the period. Finally, Saxony Capital Management LLC lifted its holdings in shares of Netflix by 1.4% in the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $31.27 during midday trading on Friday, reaching $1,211.64. The company had a trading volume of 3,811,512 shares, compared to its average volume of 3,954,067. The stock has a market cap of $514.86 billion, a P/E ratio of 51.63, a P/E/G ratio of 2.04 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The business's 50-day simple moving average is $1,232.25 and its 200 day simple moving average is $1,095.21. Netflix, Inc. has a 1 year low of $622.99 and a 1 year high of $1,341.15.

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

Insider Transactions at Netflix

In other Netflix news, insider Cletus R. Willems sold 238 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 685 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,226 shares of company stock valued at $183,849,784. 1.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NFLX. JPMorgan Chase & Co. upped their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Piper Sandler upped their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Phillip Securities downgraded shares of Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Finally, Benchmark reiterated a "hold" rating on shares of Netflix in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently 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.