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

Clearstead Trust LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 70.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Edgestream Partners L.P. grew its stake in shares of Netflix by 329.9% in the 2nd quarter. Edgestream Partners L.P. now owns 9,364 shares of the Internet television network’s stock valued at $6,320,000 after purchasing an additional 7,186 shares during the period. Excalibur Management Corp boosted its holdings in shares of Netflix by 1.5% in the 2nd quarter. Excalibur Management Corp now owns 3,775 shares of the Internet television network’s stock worth $2,548,000 after acquiring an additional 57 shares in the last quarter. Luts & Greenleigh Group Inc. acquired a new position in shares of Netflix in the 2nd quarter worth approximately $222,000. WealthPLAN Partners LLC lifted its holdings in Netflix by 7.6% during the 2nd quarter. WealthPLAN Partners LLC now owns 943 shares of the Internet television network’s stock worth $636,000 after buying an additional 67 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Netflix during the 2nd quarter worth $183,365,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Down 0.1 %

Shares of NFLX opened at $696.50 on Tuesday. Netflix, Inc. has a one year low of $344.73 and a one year high of $711.33. The company has a market cap of $300.19 billion, a P/E ratio of 48.33, a P/E/G ratio of 1.40 and a beta of 1.26. 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 firm has a 50 day simple moving average of $660.22 and a two-hundred day simple moving average of $638.54.

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. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the business earned $3.29 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. Research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Transactions at Netflix

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America upped their target price on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler lifted their price target on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Redburn Atlantic lifted their price target on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Evercore ISI lifted their price target on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group lifted their price target on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. One 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $685.29.

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.