Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Increased by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 103.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,206 shares of the Internet television network's stock after purchasing an additional 613 shares during the quarter. Sovereign Financial Group Inc.'s holdings in Netflix were worth $1,125,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC grew its holdings in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $32,000. Pineridge Advisors LLC boosted its position in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after buying an additional 40 shares during the period. Finally, Copia Wealth Management acquired a new position in shares of Netflix during the fourth quarter worth approximately $37,000. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of analyst reports. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Piper Sandler set a $1,150.00 price target on Netflix and gave the stock an "overweight" rating in a research report on Monday, April 21st. Benchmark reiterated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,149.91.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 640 shares of the company's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $1,097.04, for a total value of $702,105.60. The disclosure for this sale can be found here. Insiders have sold a total of 153,390 shares of company stock valued at $170,509,439 in the last three months. Insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,241.47 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The stock's 50-day moving average is $1,087.80 and its two-hundred day moving average is $987.81. The firm has a market cap of $528.33 billion, a P/E ratio of 62.61, a PEG ratio of 2.12 and a beta of 1.59.

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 for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the firm posted $8.28 EPS. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.

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