Mountain Capital Investment Advisors Inc. Acquires New Stake in Netflix, Inc. $NFLX

Mountain Capital Investment Advisors Inc. bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 191 shares of the Internet television network’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stephens Consulting LLC raised its position in Netflix by 150.0% during the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock valued at $33,000 after purchasing an additional 15 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in Netflix during the 1st quarter valued at $37,000. Maseco LLP bought a new stake in Netflix during the 2nd quarter valued at $39,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Netflix during the 1st quarter valued at $42,000. Finally, 1248 Management LLC bought a new stake in Netflix during the 1st quarter valued at $43,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 1.3%

Shares of NASDAQ:NFLX opened at $1,199.36 on Monday. The business’s 50-day moving average is $1,213.47 and its 200 day moving average is $1,179.41. Netflix, Inc. has a 1 year low of $736.23 and a 1 year high of $1,341.15. The firm has a market capitalization of $509.64 billion, a P/E ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the company posted $4.88 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $1,500.00 price target on shares of Netflix in a report on Wednesday, September 10th. Piper Sandler boosted their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company increased their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $1,339.81.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares of the company’s stock, valued at $17,604,284.16. This represents a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 42,176 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the transaction, the director directly owned 394 shares in the company, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 over the last ninety days. Corporate insiders own 1.37% of the company’s stock.

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.