Novare Capital Management LLC Makes New $311,000 Investment in Netflix, Inc. (NASDAQ:NFLX)

Novare Capital Management LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 333 shares of the Internet television network’s stock, valued at approximately $311,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock worth $1,227,468,000 after purchasing an additional 110,432 shares during the period. PharVision Advisers LLC acquired a new stake in shares of Netflix during the 4th quarter valued at $873,000. New England Research & Management Inc. lifted its position in shares of Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network’s stock valued at $1,979,000 after acquiring an additional 1,268 shares during the last quarter. First National Trust Co lifted its position in shares of Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after acquiring an additional 12 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network’s stock valued at $50,952,000 after acquiring an additional 3,137 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 0.8%

Netflix stock opened at $1,295.24 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $551.21 billion, a price-to-earnings ratio of 61.21, a PEG ratio of 2.35 and a beta of 1.59. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company’s fifty day moving average price is $1,207.87 and its two-hundred day moving average price is $1,037.61.

Netflix (NASDAQ:NFLX) last posted its 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 firm 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 period in the prior year, the business posted $8.28 earnings per share. On average, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Reed Hastings sold 26,977 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were 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 directly owned 394 shares in the company, valued at $446,421.70. This represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the sale, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,179,614.58. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock valued at $223,307,201. Corporate insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NFLX. Piper Sandler set a $1,150.00 price objective on Netflix and gave the company an “overweight” rating in a research report on Monday, April 21st. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an “outperform” rating in a research report on Friday, May 16th. Guggenheim reiterated a “buy” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. FBN Securities began coverage on Netflix in a research report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,182.58.

Netflix Company 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.