Davis Investment Partners LLC Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Davis Investment Partners LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the first quarter, Holdings Channel.com reports. The fund bought 283 shares of the Internet television network’s stock, valued at approximately $264,000.

Other institutional investors have also recently made changes to their positions in the company. Capital & Planning LLC bought a new stake in shares of Netflix during the 4th quarter valued at $809,000. Brighton Jones LLC boosted its stake in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after purchasing an additional 257 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Netflix during the 4th quarter valued at about $12,212,000. Revolve Wealth Partners LLC grew its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after buying an additional 144 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC bought a new stake in shares of Netflix during the fourth quarter valued at about $276,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an “outperform” rating in a research report on Friday, May 16th. KeyCorp increased their target price on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Loop Capital reissued a “hold” rating on shares of Netflix in a report on Monday, March 24th. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $1,220.00 price objective (up previously from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,149.91.

Netflix Stock Up 1.4%

Shares of NASDAQ:NFLX opened at $1,219.88 on Thursday. The stock has a market capitalization of $519.15 billion, a P/E ratio of 61.52, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The stock’s 50-day moving average price is $1,106.59 and its 200-day moving average price is $994.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81.

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 the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the prior year, the business posted $8.28 EPS. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In related news, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director now directly owns 79,040 shares in the company, valued at $87,099,708.80. This represents a 29.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Reed Hastings sold 26,977 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the sale, the director now directly owns 394 shares in the company, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is currently owned by company insiders.

About Netflix

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.