Magnolia Capital Advisors LLC Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Magnolia Capital Advisors LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961 shares of the Internet television network’s stock after purchasing an additional 28 shares during the period. Magnolia Capital Advisors LLC’s holdings in Netflix were worth $649,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Obermeyer Wood Investment Counsel Lllp grew its stake in Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after acquiring an additional 17 shares during the period. Private Portfolio Partners LLC grew its stake in Netflix by 1.7% in the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after acquiring an additional 17 shares during the period. FAS Wealth Partners Inc. grew its stake in Netflix by 1.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after acquiring an additional 17 shares during the period. Clear Point Advisors Inc. grew its stake in Netflix by 3.9% in the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock worth $303,000 after acquiring an additional 17 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in Netflix by 4.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after acquiring an additional 18 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 0.3 %

Shares of NASDAQ:NFLX opened at $709.27 on Tuesday. The company has a 50 day moving average of $670.86 and a 200-day moving average of $645.58. The firm has a market cap of $305.70 billion, a P/E ratio of 49.22, a P/E/G ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $725.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. KeyCorp lifted their target price on shares of Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Redburn Atlantic lifted their target price on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” 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 objective on the stock. Finally, Pivotal Research boosted their price objective on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Activity at Netflix

In related news, Director Leslie J. Kilgore sold 402 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at approximately $25,564,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Leslie J. Kilgore sold 402 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at approximately $25,564,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 179,494 shares of company stock valued at $118,230,884 over the last ninety days. Insiders own 1.76% of the company’s stock.

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.