ProVise Management Group LLC Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

ProVise Management Group LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 29.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 508 shares of the Internet television network’s stock after purchasing an additional 115 shares during the period. ProVise Management Group LLC’s holdings in Netflix were worth $343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Denver PWM LLC acquired a new stake in Netflix in the second quarter worth about $25,000. Valued Wealth Advisors LLC boosted its stake in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. Proffitt & Goodson Inc. grew its position in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. AlphaMark Advisors LLC increased its stake in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO raised its holdings in shares of Netflix by 112.0% in 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 during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

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 transaction of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,226 shares of company stock valued at $129,858,692. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Down 0.5 %

Shares of NASDAQ:NFLX opened at $701.03 on Friday. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $715.66. The stock has a market cap of $302.14 billion, a P/E ratio of 48.65, a PEG ratio of 1.40 and a beta of 1.26. The business has a fifty day moving average of $663.00 and a two-hundred day moving average of $640.55. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (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 analyst estimates of $9.53 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. On average, research analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NFLX. Rosenblatt Securities reissued a “neutral” rating and set a $635.00 price objective on shares of Netflix in a report on Friday. Oppenheimer reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Tuesday, July 30th. Piper Sandler lifted their target price on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. China Renaissance began coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target on the stock. Finally, Sanford C. Bernstein lifted their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

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.