FORVIS Wealth Advisors LLC Increases Position in Netflix, Inc. (NASDAQ:NFLX)

FORVIS Wealth Advisors LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 119.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 974 shares of the Internet television network’s stock after acquiring an additional 530 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Netflix were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. KFA Private Wealth Group LLC lifted its stake in Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after purchasing an additional 18 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after purchasing an additional 18 shares during the last quarter. Founders Financial Alliance LLC lifted its stake in Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after purchasing an additional 18 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Netflix by 4.6% in the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock valued at $250,000 after purchasing an additional 18 shares during the last quarter. Finally, Addison Advisors LLC lifted its stake in Netflix by 7.8% in the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 0.4 %

NFLX traded up $2.93 on Thursday, hitting $682.51. The company had a trading volume of 1,403,545 shares, compared to its average volume of 2,678,236. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $689.88. 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 has a fifty day simple moving average of $635.90 and a 200-day simple moving average of $588.63. The firm has a market capitalization of $294.16 billion, a P/E ratio of 47.36, a P/E/G ratio of 1.47 and a beta of 1.27.

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

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 18,361 shares of Netflix 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 owns 28 shares in the company, valued at approximately $15,443.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider David A. Hyman sold 268 shares of Netflix stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 18,361 shares of Netflix 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 owns 28 shares in the company, valued at approximately $15,443.12. The disclosure for this sale can be found here. Insiders have sold 71,385 shares of company stock worth $44,469,351 in the last 90 days. 1.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NFLX. Rosenblatt Securities upped their price target on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Evercore ISI upped their price target on shares of Netflix from $650.00 to $700.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. Piper Sandler upped their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Loop Capital upped their price target on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Guggenheim upped their price target on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $637.34.

About Netflix

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.