Pandora Wealth Inc. Makes New $960,000 Investment in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Pandora Wealth Inc. has made a significant investment of $960,000 in Netflix, acquiring 1,029 shares of the stock during the first quarter.
• Wall Street analysts have shown a positive outlook for Netflix, with price targets from various firms ranging from $1,140.00 to $1,515.00, and the stock receiving an average rating of "Moderate Buy."
• Insider trading activity has seen notable sales, with CFO Spencer Adam Neumann and Director Jay C. Hoag selling shares amounting to a total value of approximately $43 million in recent months.

Pandora Wealth Inc. acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,029 shares of the Internet television network's stock, valued at approximately $960,000.

Several other large investors have also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC boosted its stake in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix in the fourth quarter valued at about $27,000. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter valued at about $32,000. Copia Wealth Management acquired a new stake in Netflix in the fourth quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its stake in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their price target on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Rosenblatt Securities lifted their price objective 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. Citigroup reaffirmed a "neutral" rating and issued a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Piper Sandler lifted their price objective 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 analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director directly owned 63,040 shares of the company's stock, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,226 shares of company stock worth $183,849,784 in the last 90 days. Corporate insiders own 1.37% of the company's stock.

Netflix Trading Up 2.6%

NASDAQ NFLX opened at $1,211.64 on Friday. Netflix, Inc. has a fifty-two week low of $622.99 and a fifty-two week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50 day simple moving average of $1,232.25 and a two-hundred day simple moving average of $1,093.48. The stock has a market cap of $514.86 billion, a P/E ratio of 51.63, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its 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 firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company earned $4.88 EPS. The business's revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current 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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.