Buffington Mohr McNeal Purchases 17 Shares of Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

Buffington Mohr McNeal lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244 shares of the Internet television network’s stock after buying an additional 17 shares during the quarter. Buffington Mohr McNeal’s holdings in Netflix were worth $228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after purchasing an additional 171,712 shares in the last quarter. FMR LLC grew its position in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after buying an additional 375,234 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $8,287,823,000 after acquiring an additional 175,596 shares during the period. GAMMA Investing LLC grew its holdings in Netflix by 109,524.3% in the first 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 Netflix in the fourth quarter valued at $5,019,087,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NFLX. Robert W. Baird increased their target price on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Piper Sandler set a $1,150.00 price target on Netflix and gave the stock an “overweight” rating in a report on Monday, April 21st. Citigroup reiterated a “neutral” rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Wedbush reissued an “outperform” rating and set a $1,200.00 target price on shares of Netflix in a research report on Monday, May 5th. Finally, Macquarie increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,182.58.

Get Our Latest Research Report on Netflix

Insider Buying and Selling at Netflix

In other Netflix news, Director Reed Hastings sold 26,977 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the sale, the director directly owned 394 shares of the company’s stock, valued at $446,421.70. The trade was a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director directly owned 79,040 shares in the company, valued at $87,099,708.80. This trade represents a 29.15% 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 over the last ninety days. Insiders own 1.37% of the company’s stock.

Netflix Stock Down 0.7%

Shares of NASDAQ:NFLX opened at $1,284.86 on Thursday. The firm has a market capitalization 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 debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm has a fifty day moving average of $1,200.03 and a 200 day moving average of $1,031.42.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the prior year, the business earned $8.28 EPS. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 EPS 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.

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