Solidarity Wealth LLC Invests $484,000 in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Solidarity Wealth LLC acquired a new stake in Netflix by purchasing 519 shares valued at approximately $484,000 during the 1st quarter of this year.
• GAMMA Investing LLC significantly increased its ownership of Netflix by 109,524.3%, now holding 8,835,722 shares valued around $8.24 billion.
• Netflix's stock has a market cap of $501.63 billion, with a P/E ratio of 50.30 and a 12-month price range between $587.04 and $1,341.15.

Solidarity Wealth LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 519 shares of the Internet television network's stock, valued at approximately $484,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC boosted its holdings in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in Netflix during the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new position in shares of Netflix in the 4th quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Netflix in the first quarter valued at $42,000. Institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

NFLX has been the topic of several research reports. The Goldman Sachs Group lifted their price target on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Morgan Stanley restated an "equal weight" rating on shares of Netflix in a research report on Monday, July 21st. Sanford C. Bernstein lifted their price objective on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Piper Sandler increased their target price on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Phillip Securities cut Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Transactions at Netflix

In other news, Director Reed Hastings sold 26,933 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the transaction, the director owned 394 shares in the company, valued at $477,394.04. This represents a 98.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag sold 31,750 shares of the business's 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 owned 63,040 shares of the company's stock, valued at $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. Over the last quarter, insiders sold 123,830 shares of company stock worth $153,102,930. Company insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of Netflix stock traded down $9.05 during trading on Thursday, hitting $1,175.15. 1,793,392 shares of the company's stock traded hands, compared to its average volume of 4,259,887. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The business has a 50-day simple moving average of $1,235.42 and a 200-day simple moving average of $1,077.88. The stock has a market capitalization of $499.36 billion, a P/E ratio of 50.09, a PEG ratio of 1.97 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

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

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.