SMART Wealth LLC Acquires 312 Shares of Netflix, Inc. (NASDAQ:NFLX)

SMART Wealth LLC boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 32.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,286 shares of the Internet television network's stock after buying an additional 312 shares during the period. SMART Wealth LLC's holdings in Netflix were worth $1,199,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Warwick Investment Management Inc. raised its position in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after purchasing an additional 10 shares in the last quarter. MRP Capital Investments LLC raised its holdings in shares of Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after buying an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC lifted its position in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after buying an additional 10 shares during the last quarter. Mission Creek Capital Partners Inc. lifted its position in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after buying an additional 10 shares during the last quarter. Finally, Continuum Wealth Advisors LLC boosted its stake in Netflix by 4.4% in the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 0.8%

Netflix stock traded up $10.38 during mid-day trading on Friday, reaching $1,295.24. The stock had a trading volume of 2,006,224 shares, compared to its average volume of 3,761,661. The firm has a market capitalization of $551.21 billion, a PE ratio of 61.21, a price-to-earnings-growth ratio of 2.35 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The stock's 50-day simple moving average is $1,204.00 and its 200-day simple moving average is $1,034.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

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 (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the business earned $8.28 EPS. On average, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction 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 transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 over the last ninety days. Insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research analyst reports. Benchmark reissued a "hold" rating on shares of Netflix in a research note on Monday, April 21st. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Citigroup reissued a "neutral" rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Jefferies Financial Group increased their price target on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company raised their price objective on Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, June 20th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,182.58.

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.