Sfmg LLC Has $2.48 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Sfmg LLC increased its stake in Netflix, Inc. by 38.1%, acquiring an additional 732 shares during the first quarter, bringing its total holdings to 2,655 shares valued at approximately $2.48 million.
• Netflix's latest earnings report revealed earnings of $7.19 EPS for the quarter, surpassing the consensus estimate of $7.07, with a 15.9% year-over-year revenue growth.
• Insider trading activity included significant sales by CEO Gregory K. Peters and Director Reed Hastings, with a total of 123,830 shares sold by insiders in the last three months.

Sfmg LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 38.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,655 shares of the Internet television network's stock after purchasing an additional 732 shares during the period. Sfmg LLC's holdings in Netflix were worth $2,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NFLX. Resurgent Financial Advisors LLC lifted its position in shares of Netflix by 234.4% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after acquiring an additional 708 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Netflix by 8.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after acquiring an additional 110,432 shares in the last quarter. PharVision Advisers LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $873,000. New England Research & Management Inc. lifted its position in shares of Netflix by 148.5% in the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Netflix by 6.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after acquiring an additional 3,137 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on NFLX. Citigroup restated a "neutral" rating and issued a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. KeyCorp increased their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Netflix from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Phillip Securities downgraded shares of Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Finally, Piper Sandler increased their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 22,765 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $1,162.46, for a total transaction of $26,463,401.90. Following the sale, the director directly owned 394 shares of the company's stock, valued at approximately $458,009.24. This trade represents a 98.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,483 shares of company stock worth $179,492,976. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Performance

Netflix stock traded down $11.57 during mid-day trading on Tuesday, reaching $1,159.42. The company had a trading volume of 762,275 shares, compared to its average volume of 4,233,147. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52 week low of $600.62 and a 52 week high of $1,341.15. The company has a 50 day moving average of $1,234.03 and a 200-day moving average of $1,087.86. The firm has a market cap of $492.67 billion, a price-to-earnings ratio of 49.41, a PEG ratio of 1.95 and a beta of 1.59.

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

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.