Flavin Financial Services Inc. Acquires New Shares in Netflix, Inc. $NFLX

Flavin Financial Services Inc. acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 179 shares of the Internet television network’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NFLX. Stephens Consulting LLC raised its holdings in Netflix by 150.0% in the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock worth $33,000 after purchasing an additional 15 shares in the last quarter. Maseco LLP purchased a new stake in shares of Netflix during the second quarter worth about $39,000. Ransom Advisory Ltd purchased a new stake in shares of Netflix during the second quarter worth about $47,000. Flaharty Asset Management LLC purchased a new stake in shares of Netflix during the first quarter worth about $37,000. Finally, Signature Resources Capital Management LLC grew its stake in shares of Netflix by 740.0% during the second quarter. Signature Resources Capital Management LLC now owns 42 shares of the Internet television network’s stock worth $56,000 after acquiring an additional 37 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,199.36 on Friday. The business’s 50 day moving average price is $1,213.47 and its 200 day moving average price is $1,177.58. The firm has a market cap of $509.64 billion, a P/E ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a 52 week low of $736.23 and a 52 week high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the firm posted $4.88 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 2,026 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the completion of the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,327,734.41. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,100 shares of company stock worth $122,710,980. Corporate insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NFLX. Loop Capital upgraded Netflix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $1,150.00 to $1,350.00 in a research note on Wednesday, September 17th. Wedbush restated an “outperform” rating on shares of Netflix in a research note on Wednesday. Barclays restated a “sell” rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Piper Sandler boosted their price target on Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, Sanford C. Bernstein restated a “buy” rating on shares of Netflix in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,339.81.

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.