Redwood Wealth Management Group LLC Purchases New Shares in Netflix, Inc. (NASDAQ:NFLX)

Redwood Wealth Management Group LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 215 shares of the Internet television network’s stock, valued at approximately $145,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Wellington Management Group LLP increased its stake in Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after buying an additional 3,273,592 shares in the last quarter. GQG Partners LLC acquired a new stake in shares of Netflix in the first quarter worth approximately $1,450,476,000. Jennison Associates LLC increased its position in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Netflix in the 1st quarter valued at $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in Netflix in the 1st quarter valued at $372,293,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NFLX. Evercore ISI upped their target price on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a report on Tuesday, August 27th. Benchmark increased their price objective on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a report on Tuesday, July 16th. Guggenheim boosted their target price on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Piper Sandler upped their price target on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Citigroup lifted their price objective on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. 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’s stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Insider Transactions at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following 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. In the last three months, insiders sold 196,798 shares of company stock valued at $129,552,672. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $697.06 on Monday. The business’s 50-day moving average is $660.00 and its two-hundred day moving average is $637.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $299.16 billion, a P/E ratio of 48.37, a P/E/G ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33.

Netflix (NASDAQ:NFLX) last released its 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 firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

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.