Emerald Advisers LLC Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Emerald Advisers LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,050 shares of the Internet television network's stock after purchasing an additional 319 shares during the period. Emerald Advisers LLC's holdings in Netflix were worth $979,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake 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 valued at $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Netflix by 16.4% in 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 in the last quarter. BIP Wealth LLC boosted its holdings in shares of Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after purchasing an additional 87 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Netflix by 39.1% during the 4th quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock valued at $1,926,000 after acquiring an additional 607 shares during the period. Finally, Choate Investment Advisors boosted its holdings in Netflix by 30.2% during the 4th quarter. Choate Investment Advisors now owns 2,922 shares of the Internet television network's stock valued at $2,604,000 after acquiring an additional 678 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NFLX shares. KeyCorp increased their target price on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Pivotal Research restated a "buy" rating on shares of Netflix in a report on Thursday. The Goldman Sachs Group upped their price target on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Piper Sandler set a $1,400.00 price target on Netflix and gave the company an "overweight" rating in a research report on Friday. Finally, Wedbush reaffirmed an "outperform" rating and set a $1,400.00 price target on shares of Netflix in a research report on Monday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,227.39.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 9,673 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,723 shares of company stock worth $223,307,201. Insiders own 1.37% of the company's stock.

Netflix Stock Down 0.1%

NFLX stock traded down $1.68 on Tuesday, reaching $1,260.27. 2,798,156 shares of the company traded hands, compared to its average volume of 3,762,573. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $536.33 billion, a P/E ratio of 59.56, a price-to-earnings-growth ratio of 2.28 and a beta of 1.59. The firm has a fifty day simple moving average of $1,224.26 and a 200-day simple moving average of $1,053.21.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the business posted $8.28 EPS. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current 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.