Netflix, Inc. (NASDAQ:NFLX) Stake Lifted by Checchi Capital Advisers LLC

by · The Cerbat Gem

Checchi Capital Advisers LLC grew its position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,799 shares of the Internet television network’s stock after purchasing an additional 64 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Netflix were worth $3,543,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Values Added Financial LLC acquired a new stake in shares of Netflix during the 1st quarter valued at $211,000. North Capital Inc. bought a new position in Netflix during the first quarter valued at about $114,000. Xcel Wealth Management LLC raised its stake in shares of Netflix by 15.2% in the 1st quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network’s stock valued at $459,000 after acquiring an additional 65 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Netflix by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 36,780 shares of the Internet television network’s stock valued at $34,298,000 after purchasing an additional 137 shares during the period. Finally, Buffington Mohr McNeal lifted its position in Netflix by 7.5% during the 1st quarter. Buffington Mohr McNeal now owns 244 shares of the Internet television network’s stock worth $228,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 in the last quarter. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NFLX shares. Guggenheim reiterated a “buy” rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Wells Fargo & Company raised their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Oppenheimer upped their price target on Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Loop Capital reiterated a “hold” rating on shares of Netflix in a research report on Monday, March 24th. Finally, Evercore ISI restated an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,182.58.

Read Our Latest Report on NFLX

Netflix Stock Performance

Shares of Netflix stock opened at $1,284.86 on Thursday. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15. The company has a market cap of $546.80 billion, a PE ratio of 60.72, a price-to-earnings-growth ratio of 2.50 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $1,200.03 and a 200-day moving average of $1,031.42.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the business posted $8.28 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

About Netflix

(Free Report)

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.

See Also

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