Belpointe Asset Management LLC Acquires 1,046 Shares of Netflix, Inc. (NASDAQ:NFLX)

Belpointe Asset Management LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 14.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,453 shares of the Internet television network’s stock after buying an additional 1,046 shares during the quarter. Belpointe Asset Management LLC’s holdings in Netflix were worth $5,705,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Obermeyer Wood Investment Counsel Lllp boosted its stake in shares of Netflix by 2.8% during the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after purchasing an additional 17 shares during the period. Private Portfolio Partners LLC lifted its stake in shares of Netflix by 1.7% in the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after purchasing an additional 17 shares during the period. FAS Wealth Partners Inc. lifted its stake in shares of Netflix by 1.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after purchasing an additional 17 shares during the period. Legacy Capital Group California Inc. raised its stake in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after buying an additional 18 shares during the last quarter. Finally, Founders Financial Alliance LLC raised its stake in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after buying an additional 18 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX traded up $7.83 during trading on Wednesday, reaching $683.15. 664,940 shares of the company’s stock traded hands, compared to its average volume of 3,805,723. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $294.44 billion, a PE ratio of 47.29, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a 50-day simple moving average of $660.05 and a 200-day simple moving average of $632.57.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping 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 business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period last year, the company posted $3.29 EPS. The business’s revenue was up 16.8% on a year-over-year basis. As a group, analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the subject of a number of research analyst reports. Loop Capital lifted their target price on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. KeyCorp boosted their price objective on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a research report on Monday, May 20th. Finally, Macquarie reiterated an “outperform” rating and issued a $685.00 target price on shares of Netflix in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $685.45.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The shares were 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. Also, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,757 shares of company stock valued at $85,648,496. 1.76% of the stock is currently owned by company insiders.

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.