Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Lifted by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its holdings in Netflix by 18.7% in Q1, now owning shares worth approximately $1.32 million.
• Netflix reported $7.19 EPS for its last quarter, surpassing estimates, with revenues of $11.08 billion, indicating a 15.9% year-over-year growth.
• Analysts have generally rated Netflix positively, with a consensus target price of $1,297.66 and the majority holding a "buy" rating.

Carnegie Investment Counsel raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 18.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,519 shares of the Internet television network's stock after purchasing an additional 239 shares during the quarter. Carnegie Investment Counsel's holdings in Netflix were worth $1,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Machina Capital S.A.S. acquired a new stake in shares of Netflix in the first quarter worth about $966,000. Pinnacle Associates Ltd. boosted its stake in shares of Netflix by 1.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 8,646 shares of the Internet television network's stock worth $8,063,000 after acquiring an additional 165 shares in the last quarter. Dorsey Wright & Associates boosted its stake in shares of Netflix by 2.7% during the 1st quarter. Dorsey Wright & Associates now owns 3,186 shares of the Internet television network's stock worth $2,971,000 after acquiring an additional 84 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Netflix by 192.1% during the 1st quarter. AE Wealth Management LLC now owns 42,008 shares of the Internet television network's stock worth $39,174,000 after acquiring an additional 27,625 shares in the last quarter. Finally, Wakefield Asset Management LLLP boosted its stake in shares of Netflix by 43.5% during the 1st quarter. Wakefield Asset Management LLLP now owns 5,576 shares of the Internet television network's stock worth $5,200,000 after acquiring an additional 1,690 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Down 0.0%

NASDAQ:NFLX opened at $1,180.49 on Friday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $501.63 billion, a P/E ratio of 50.30, a P/E/G ratio of 1.99 and a beta of 1.59. The stock's fifty day simple moving average is $1,236.44 and its 200-day simple moving average is $1,071.39.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NFLX shares. Rosenblatt Securities upped their price target on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Bank of America upped their price target on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Macquarie upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Finally, Piper Sandler upped their price target on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insiders Place Their Bets

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director directly owned 7,969 shares in the company, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,472,273.97. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,923 shares of company stock valued at $222,445,095. Insiders own 1.37% of the company's stock.

Netflix 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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