Soltis Investment Advisors LLC Acquires 285 Shares of Netflix, Inc. (NASDAQ:NFLX)

Soltis Investment Advisors LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 29.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,252 shares of the Internet television network’s stock after acquiring an additional 285 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Netflix were worth $760,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Cetera Advisor Networks LLC increased its position in shares of Netflix by 0.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 33,086 shares of the Internet television network’s stock valued at $20,094,000 after purchasing an additional 186 shares during the last quarter. Cetera Advisors LLC grew its position in Netflix by 212.0% during the 1st quarter. Cetera Advisors LLC now owns 43,169 shares of the Internet television network’s stock worth $26,218,000 after acquiring an additional 29,333 shares during the last quarter. Cetera Investment Advisers grew its position in Netflix by 126.3% during the 1st quarter. Cetera Investment Advisers now owns 92,315 shares of the Internet television network’s stock worth $56,065,000 after acquiring an additional 51,513 shares during the last quarter. Invst LLC grew its position in Netflix by 258.9% during the 1st quarter. Invst LLC now owns 3,822 shares of the Internet television network’s stock worth $2,348,000 after acquiring an additional 2,757 shares during the last quarter. Finally, PGGM Investments grew its position in Netflix by 55.4% during the 1st quarter. PGGM Investments now owns 41,421 shares of the Internet television network’s stock worth $25,156,000 after acquiring an additional 14,759 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now owns 57 shares in the company, valued at $35,991.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Netflix news, CFO Spencer Adam Neumann sold 564 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,415 shares of company stock worth $47,477,222. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Down 1.8 %

Shares of NFLX traded down $11.21 during midday trading on Friday, hitting $613.64. 3,523,003 shares of the company’s stock traded hands, compared to its average volume of 3,930,496. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average is $656.10 and its 200-day moving average is $612.84. The stock has a market capitalization of $263.36 billion, a price-to-earnings ratio of 42.58, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $697.49.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.29 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NFLX shares. CICC Research began coverage on Netflix in a research report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Jefferies Financial Group lifted their target price on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Canaccord Genuity Group reissued a “hold” rating and issued a $585.00 target price (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. UBS Group lifted their target price on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Macquarie reissued an “outperform” rating and issued a $685.00 target price on shares of Netflix in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $681.21.

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.