Netflix, Inc. (NASDAQ:NFLX) Stock Position Lifted by CV Advisors LLC

CV Advisors LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,012 shares of the Internet television network's stock after purchasing an additional 799 shares during the quarter. Netflix makes up about 2.0% of CV Advisors LLC's holdings, making the stock its 9th biggest holding. CV Advisors LLC's holdings in Netflix were worth $5,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NFLX. Vanguard Group Inc. grew its position in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC grew its position in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after buying an additional 375,234 shares during the period. Geode Capital Management LLC grew its position in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after buying an additional 175,596 shares during the period. GAMMA Investing LLC grew its position in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the period. Finally, Norges Bank purchased a new stake in shares of Netflix in the 4th quarter worth about $5,019,087,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,231.49 on Monday. The firm's 50 day moving average price is $1,150.80 and its 200-day moving average price is $1,012.19. The stock has a market capitalization of $524.09 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,262.81. 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 released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the prior year, the firm posted $8.28 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director now directly owns 63,040 shares of the company's stock, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the stock an "overweight" rating in a research note on Monday, April 21st. Pivotal Research upped their price target on shares of Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Friday. KeyCorp upped their price target on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. UBS Group upped their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

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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