Capital Market Strategies LLC Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Capital Market Strategies LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 51.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 805 shares of the Internet television network’s stock after acquiring an additional 275 shares during the quarter. Capital Market Strategies LLC’s holdings in Netflix were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Capital & Planning LLC purchased a new stake in Netflix in the fourth quarter worth $809,000. Brighton Jones LLC lifted its stake in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after acquiring an additional 257 shares during the period. Union Bancaire Privee UBP SA bought a new position in Netflix in the fourth quarter worth $12,212,000. Revolve Wealth Partners LLC raised its holdings in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after purchasing an additional 144 shares in the last quarter. Finally, Gateway Wealth Partners LLC bought a new position in Netflix in the fourth quarter worth $287,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Canaccord Genuity Group increased their price objective on Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Needham & Company LLC reiterated a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Piper Sandler set a $1,150.00 price objective on Netflix and gave the stock an “overweight” rating in a report on Monday, April 21st. Macquarie increased their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Finally, UBS Group decreased their price objective on Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,112.79.

Netflix Price Performance

NASDAQ NFLX opened at $1,184.86 on Friday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,215.91. The stock has a 50-day moving average of $1,055.18 and a 200 day moving average of $971.66. The company has a market capitalization of $504.24 billion, a price-to-earnings ratio of 59.75, a PEG ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the company earned $8.28 EPS. On average, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now directly owns 79,040 shares of the company’s stock, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at $362,933.10. The trade was a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,348 shares of company stock worth $139,087,908. 1.37% of the stock is owned by corporate 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.