FORVIS Wealth Advisors LLC Has $592,000 Stock Position in Netflix, Inc. (NASDAQ:NFLX)

FORVIS Wealth Advisors LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 119.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 974 shares of the Internet television network’s stock after buying an additional 530 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Netflix were worth $592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors increased its stake in shares of Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the period. Jennison Associates LLC grew its stake in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Norges Bank acquired a new stake in shares of Netflix during the fourth quarter worth $2,558,598,000. Fisher Asset Management LLC grew its stake in shares of Netflix by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after purchasing an additional 78,298 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NFLX. Pivotal Research lifted their price objective on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Guggenheim lifted their price objective on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of Netflix in a research note on Monday, June 17th. Finally, Piper Sandler increased their price target on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $637.34.

Netflix Stock Up 0.4 %

NASDAQ NFLX traded up $2.93 during trading hours on Thursday, hitting $682.51. 1,403,545 shares of the company traded hands, compared to its average volume of 2,678,236. The business’s 50-day moving average is $635.90 and its 200-day moving average is $588.63. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $689.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $294.16 billion, a price-to-earnings ratio of 47.36, a P/E/G ratio of 1.47 and a beta of 1.27.

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

Insider Activity

In other news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. Insiders sold a total of 71,385 shares of company stock valued at $44,469,351 over the last three months. Insiders own 1.76% of the company’s stock.

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.