Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp increased its position in Netflix by 548.3%, owning 2,483 shares valued at approximately $2.3 million as of its latest SEC filing.
• Netflix reported an EPS of $7.19, surpassing estimates, with a year-over-year revenue increase of 15.9%, totaling $11.08 billion for the quarter.
• Wall Street analysts hold a consensus rating of "Moderate Buy" for Netflix, with a target price of $1,297.66, reflecting significant analyst confidence in the stock's growth potential.

UNIVEST FINANCIAL Corp boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 548.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,483 shares of the Internet television network's stock after acquiring an additional 2,100 shares during the period. UNIVEST FINANCIAL Corp's holdings in Netflix were worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Resurgent Financial Advisors LLC boosted its stake in Netflix by 234.4% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after purchasing an additional 708 shares in the last quarter. Janus Henderson Group PLC boosted its stake in 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 worth $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC acquired a new stake in Netflix in the 4th quarter worth approximately $873,000. New England Research & Management Inc. boosted its stake in 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 worth $1,979,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in 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 worth $50,952,000 after purchasing an additional 3,137 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

NFLX traded down $0.80 on Friday, hitting $1,158.60. 3,886,745 shares of the company's stock were exchanged, compared to its average volume of 3,831,108. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $1,234.32 and a 200-day moving average price of $1,082.35. The stock has a market cap of $492.32 billion, a price-to-earnings ratio of 49.37, a P/E/G ratio of 1.95 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 net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the company posted $4.88 EPS. The firm's quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of recent analyst reports. Oppenheimer lifted their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Bank of America raised their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Piper Sandler raised their price target 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. Macquarie raised their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Finally, Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were 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 owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Strive Masiyiwa sold 290 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Insiders have sold a total of 123,830 shares of company stock worth $153,102,930 over the last 90 days. Corporate insiders own 1.37% of the company's stock.

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.