Abacus Planning Group Inc. Boosts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Abacus Planning Group Inc. lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 597 shares of the Internet television network’s stock after purchasing an additional 32 shares during the quarter. Abacus Planning Group Inc.’s holdings in Netflix were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Brown Shipley& Co Ltd bought a new stake in Netflix in the 4th quarter worth about $27,000. Pathway Financial Advisers LLC boosted its holdings in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Netflix in the fourth quarter worth approximately $32,000. Pineridge Advisors LLC grew its stake in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the period. Finally, Copia Wealth Management purchased a new position in shares of Netflix during the fourth quarter valued at approximately $37,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of Netflix stock opened at $1,241.47 on Friday. The company has a market capitalization of $528.33 billion, a PE ratio of 62.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The stock’s fifty day moving average is $1,087.80 and its two-hundred day moving average is $988.53. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) 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 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the company posted $8.28 EPS. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Canaccord Genuity Group upped their price objective on Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Jefferies Financial Group raised their target price on Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Piper Sandler set a $1,150.00 price target on Netflix and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Macquarie upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,149.91.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Insiders have sold a total of 153,390 shares of company stock valued at $170,509,439 over the last ninety days. 1.37% of the stock is owned by company insiders.

Netflix 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.