Vest Financial LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Vest Financial LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 706 shares of the Internet television network’s stock after acquiring an additional 73 shares during the period. Vest Financial LLC’s holdings in Netflix were worth $476,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NFLX. M&G Plc purchased a new position in Netflix in the first quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd raised its holdings in Netflix by 24.4% in 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 buying an additional 49,000 shares during the period. Scarborough Advisors LLC purchased a new position in Netflix in the fourth quarter valued at approximately $9,513,000. Scotia Capital Inc. raised its holdings in Netflix by 9.1% in the fourth quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock valued at $12,343,000 after buying an additional 2,110 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new position in Netflix in the fourth quarter valued at approximately $3,700,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Netflix stock opened at $697.06 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $299.16 billion, a PE ratio of 48.37, a P/E/G 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 fifty day moving average price of $660.00 and a two-hundred day moving average price of $637.34.

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

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the sale, the director now owns 95,040 shares in the company, valued at $65,299,132.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is owned by insiders.

Analysts Set New Price Targets

NFLX has been the topic of several research reports. Piper Sandler raised their price target on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, July 19th. The Goldman Sachs Group increased their price objective on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Finally, Benchmark increased their price objective on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

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.