Perpetual Ltd Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Perpetual Ltd lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 216.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,054 shares of the Internet television network’s stock after acquiring an additional 2,090 shares during the quarter. Perpetual Ltd’s holdings in Netflix were worth $1,855,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NFLX. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix in the 3rd quarter worth approximately $26,000. VitalStone Financial LLC lifted its position in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC lifted its position in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the period. Scarborough Advisors LLC purchased a new stake in Netflix during the fourth quarter valued at approximately $32,000. Finally, Blue Bell Private Wealth Management LLC lifted its position in Netflix by 89.7% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock valued at $36,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX stock traded down $6.64 during midday trading on Thursday, hitting $679.03. 2,583,268 shares of the stock traded hands, compared to its average volume of 4,024,523. The firm has a market cap of $292.66 billion, a P/E ratio of 47.12, a PEG ratio of 1.48 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s fifty day simple moving average is $620.18 and its 200-day simple moving average is $574.17. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $689.88.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $2.88 earnings per share. On average, analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NFLX shares. JPMorgan Chase & Co. increased their target price on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Jefferies Financial Group reissued a “buy” rating and set a $655.00 target price on shares of Netflix in a research report on Wednesday, May 15th. Wells Fargo & Company increased their target price on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Piper Sandler increased their target price on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, CICC Research started coverage on shares of Netflix in a research report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $633.53.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Netflix news, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,425 shares of company stock worth $41,919,791. 1.76% of the stock is owned by company insiders.

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.