SteelPeak Wealth LLC Acquires 754 Shares of Netflix, Inc. (NASDAQ:NFLX)

by · The Cerbat Gem

SteelPeak Wealth LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 2.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 32,027 shares of the Internet television network’s stock after purchasing an additional 754 shares during the period. Netflix comprises about 1.2% of SteelPeak Wealth LLC’s portfolio, making the stock its 17th largest holding. SteelPeak Wealth LLC’s holdings in Netflix were worth $29,866,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in Netflix in the fourth quarter worth about $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management purchased a new stake in shares of Netflix during the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its stake in shares of Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NFLX shares. FBN Securities began coverage on shares of Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 target price for the company. Benchmark reaffirmed a “hold” rating on shares of Netflix in a report on Monday, April 21st. Cfra Research raised shares of Netflix to a “strong-buy” rating in a report on Monday, April 28th. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Morgan Stanley increased their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,206.64.

Check Out Our Latest Stock Analysis on Netflix

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated 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 sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,179,614.58. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the sale, the director owned 7,969 shares of the company’s stock, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock opened at $1,250.59 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $1,219.93 and its two-hundred day moving average is $1,046.88. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The company has a market capitalization of $532.21 billion, a PE ratio of 59.10, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59.

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

Netflix Company Profile

(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

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX – Free Report).