Gradient Investments LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Gradient Investments LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,537 shares of the Internet television network’s stock after acquiring an additional 1,069 shares during the period. Gradient Investments LLC’s holdings in Netflix were worth $18,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Valued Wealth Advisors LLC increased its position in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. VitalStone Financial LLC increased its holdings in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC raised its position in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of Netflix in the 4th quarter valued at about $32,000. Finally, Indiana Trust & Investment Management CO grew its position in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NFLX stock traded up $10.85 during mid-day trading on Friday, hitting $674.07. The stock had a trading volume of 3,511,014 shares, compared to its average volume of 3,896,356. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $697.49. 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’s 50-day simple moving average is $654.47 and its 200-day simple moving average is $621.20. The firm has a market cap of $290.52 billion, a PE ratio of 46.78, a PEG ratio of 1.28 and a beta of 1.27.

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 analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter last year, the firm earned $3.29 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NFLX. Oppenheimer reiterated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research note on Tuesday, July 30th. Bank of America lifted their price objective on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Piper Sandler increased their target price on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $585.00 price target (down from $720.00) on shares of Netflix in a report on Friday, April 19th. Finally, Pivotal Research increased their price objective on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $681.21.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jay C. Hoag sold 37,675 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $629.73, for a total value of $23,725,077.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders have sold a total of 132,893 shares of company stock worth $84,412,483 over the last three months. 1.76% of the stock is currently owned by corporate insiders.

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.