BIP Wealth LLC Has $444,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

BIP Wealth LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.1% during the 1st quarter, HoldingsChannel reports. The fund owned 476 shares of the Internet television network’s stock after acquiring an additional 23 shares during the quarter. BIP Wealth LLC’s holdings in Netflix were worth $444,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC lifted its stake in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after acquiring an additional 375,234 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC raised its stake in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Finally, Norges Bank bought a new stake in shares of Netflix during the 4th quarter worth $5,019,087,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,260.27 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The stock has a 50 day moving average price of $1,226.71 and a two-hundred day moving average price of $1,054.65. The company has a market capitalization of $536.33 billion, a P/E ratio of 59.56, a PEG ratio of 2.28 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the previous year, the company posted $8.28 earnings per share. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NFLX. UBS Group lifted their target price on Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Piper Sandler set a $1,400.00 target price on Netflix and gave the stock an “overweight” rating in a research note on Friday, July 11th. Morgan Stanley lifted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Rosenblatt Securities lifted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Finally, Needham & Company LLC set a $1,500.00 price objective on Netflix and gave the stock a “buy” rating in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,227.39.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,090 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,723 shares of company stock valued at $223,307,201. Insiders own 1.37% of the company’s stock.

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.