Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Prakash Investment Advisors LLC

Prakash Investment Advisors LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,707 shares of the Internet television network's stock after purchasing an additional 400 shares during the quarter. Netflix accounts for approximately 10.0% of Prakash Investment Advisors LLC's investment portfolio, making the stock its 2nd largest holding. Prakash Investment Advisors LLC's holdings in Netflix were worth $9,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the period. Flputnam Investment Management Co. lifted its holdings in Netflix by 11.0% in the fourth quarter. Flputnam Investment Management Co. now owns 13,468 shares of the Internet television network's stock valued at $12,004,000 after acquiring an additional 1,335 shares during the period. SVB Wealth LLC acquired a new position in Netflix in the fourth quarter valued at approximately $14,407,000. Finally, Maple Capital Management Inc. lifted its holdings in Netflix by 3.7% in the fourth quarter. Maple Capital Management Inc. now owns 10,713 shares of the Internet television network's stock valued at $9,549,000 after acquiring an additional 384 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,280 shares of company stock valued at $210,599,866 in the last quarter. Insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of Netflix stock opened at $1,323.12 on Friday. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,331.35. The business's fifty day simple moving average is $1,183.25 and its 200-day simple moving average is $1,024.18. The firm has a market cap of $563.08 billion, a PE ratio of 62.53, a price-to-earnings-growth ratio of 2.56 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly 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 analyst estimates of $10.51 billion. During the same quarter in the prior year, the company posted $8.28 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NFLX. Wells Fargo & Company boosted their price target on Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Morgan Stanley boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Needham & Company LLC restated a "buy" rating and issued a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Finally, Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,172.73.

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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