Clearstead Trust LLC Acquires 200 Shares of Netflix, Inc. (NASDAQ:NFLX)

Clearstead Trust LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 70.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 482 shares of the Internet television network’s stock after purchasing an additional 200 shares during the period. Clearstead Trust LLC’s holdings in Netflix were worth $325,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. M&G Plc bought a new stake in Netflix during the first quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its position in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after acquiring an additional 49,000 shares during the last quarter. Scarborough Advisors LLC bought a new stake in Netflix during the fourth quarter valued at $9,513,000. Scotia Capital Inc. boosted its position in Netflix by 9.1% during the fourth quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock valued at $12,343,000 after acquiring an additional 2,110 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in Netflix during the fourth quarter valued at $3,700,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 0.1 %

NFLX opened at $696.50 on Tuesday. The company has a 50 day moving average of $660.22 and a 200 day moving average of $638.54. The company has a market cap of $300.19 billion, a PE ratio of 48.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period last year, the firm earned $3.29 EPS. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on NFLX. Piper Sandler upped their price target on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Loop Capital increased their price objective on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Argus increased their price objective on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Wedbush reissued an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $685.29.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock valued at $129,552,672 in the last three months. Company insiders own 1.76% 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.