Netflix, Inc. $NFLX is RWQ Financial Management Services Inc.’s 3rd Largest Position

RWQ Financial Management Services Inc. lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 20.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,200 shares of the Internet television network’s stock after purchasing an additional 2,760 shares during the period. Netflix accounts for approximately 9.1% of RWQ Financial Management Services Inc.’s holdings, making the stock its 3rd largest position. RWQ Financial Management Services Inc.’s holdings in Netflix were worth $21,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after purchasing an additional 509,255 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Netflix by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock worth $4,844,436,000 after purchasing an additional 53,611 shares in the last quarter. Invesco Ltd. increased its stake in shares of Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock worth $4,350,083,000 after purchasing an additional 356,617 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Netflix by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock worth $4,089,765,000 after purchasing an additional 148,675 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Up 1.3%

NFLX opened at $1,199.36 on Friday. The firm has a 50-day simple moving average of $1,213.47 and a two-hundred day simple moving average of $1,175.91. Netflix, Inc. has a 52 week low of $736.23 and a 52 week high of $1,341.15. The company has a market capitalization of $509.64 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the firm earned $4.88 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the transaction, the chief executive officer owned 15,168 shares of the company’s stock, valued at $17,604,284.16. This represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 424 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider directly owned 31,610 shares of the company’s stock, valued at $36,625,558.70. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,100 shares of company stock worth $122,710,980. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several analyst reports. TD Cowen reduced their price objective on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Piper Sandler upped their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Netflix in a report on Tuesday. Loop Capital raised shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. Finally, KeyCorp upped their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,339.81.

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.