Archer Investment Corp Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Archer Investment Corp lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 542.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225 shares of the Internet television network’s stock after purchasing an additional 190 shares during the period. Archer Investment Corp’s holdings in Netflix were worth $210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NFLX. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Netflix by 12,066.7% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 365 shares of the Internet television network’s stock worth $340,000 after purchasing an additional 362 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in Netflix in the 1st quarter valued at about $5,222,000. Independent Wealth Network Inc. boosted its holdings in shares of Netflix by 8.3% during the 1st quarter. Independent Wealth Network Inc. now owns 523 shares of the Internet television network’s stock worth $488,000 after purchasing an additional 40 shares during the last quarter. RWQ Financial Management Services Inc. increased its holdings in shares of Netflix by 371.4% in the first quarter. RWQ Financial Management Services Inc. now owns 13,440 shares of the Internet television network’s stock valued at $12,533,000 after purchasing an additional 10,589 shares during the last quarter. Finally, Forte Capital LLC ADV lifted its position in Netflix by 7.6% during the first quarter. Forte Capital LLC ADV now owns 2,152 shares of the Internet television network’s stock worth $2,007,000 after buying an additional 152 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Down 5.1%

NFLX stock opened at $1,209.24 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company’s 50 day simple moving average is $1,232.59 and its 200-day simple moving average is $1,060.77. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The firm has a market capitalization of $514.62 billion, a PE ratio of 51.52, a P/E/G ratio of 2.30 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 43.00% and a net margin of 24.58%. The firm had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same quarter in the prior year, the firm earned $4.88 EPS. Netflix’s quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. Robert W. Baird lifted their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Macquarie increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Finally, Rosenblatt Securities boosted their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,275.30.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the sale, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,179,614.58. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reed Hastings sold 26,977 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is currently owned by corporate insiders.

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.