17 Capital Partners LLC Has $1.89 Million Position in Netflix, Inc. (NASDAQ:NFLX)

17 Capital Partners LLC boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 66.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,029 shares of the Internet television network’s stock after acquiring an additional 809 shares during the quarter. Netflix accounts for 1.2% of 17 Capital Partners LLC’s portfolio, making the stock its 13th largest position. 17 Capital Partners LLC’s holdings in Netflix were worth $1,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of NFLX. Brighton Jones LLC increased its stake in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after buying an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after buying an additional 144 shares in the last quarter. BIP Wealth LLC increased its stake in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock valued at $403,000 after buying an additional 87 shares in the last quarter. Farringdon Capital Ltd. acquired a new stake in shares of Netflix in the fourth quarter valued at $298,000. Finally, Alpha DNA Investment Management LLC acquired a new stake in shares of Netflix in the fourth quarter valued at $487,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 2,026 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares in the company, valued at $14,793,240.64. This represents a 13.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the sale, the chief executive officer owned 15,168 shares in the company, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,307 shares of company stock worth $179,443,809. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NFLX. Seaport Res Ptn lowered Netflix from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 6th. Loop Capital restated a “hold” rating on shares of Netflix in a research note on Tuesday, July 15th. Wedbush reiterated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Sanford C. Bernstein raised their price target on Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Finally, Piper Sandler raised their price target on Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,297.66.

Netflix Trading Up 0.7%

NASDAQ NFLX opened at $1,238.95 on Friday. The stock has a market capitalization of $526.47 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 2.09 and a beta of 1.59. The stock’s 50 day moving average price is $1,231.23 and its two-hundred day moving average price is $1,103.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 52 week low of $660.80 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.88 EPS. As a group, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.