Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Abbot Financial Management Inc.

Abbot Financial Management Inc. raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,141 shares of the Internet television network’s stock after acquiring an additional 139 shares during the period. Abbot Financial Management Inc.’s holdings in Netflix were worth $770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new stake in shares of Netflix in the second quarter worth about $25,000. Valued Wealth Advisors LLC grew its position in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. VitalStone Financial LLC raised its stake in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC lifted its position in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in shares of Netflix in the fourth quarter valued at $32,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

NFLX stock opened at $696.50 on Tuesday. The company has a 50-day simple moving average of $660.22 and a 200 day simple moving average of $638.54. The company has a market capitalization of $300.19 billion, a P/E ratio of 48.33, a PEG ratio of 1.40 and a beta of 1.26. 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, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping 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 company 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 posted $3.29 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was 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 document filed with the Securities & Exchange Commission, which is available at this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Argus upped their price objective on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Bank of America raised their price objective on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Redburn Atlantic upped their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler raised their price target on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, TD Cowen upped their price target on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One investment 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 stock. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix Company 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.