Revolve Wealth Partners LLC Acquires 119 Shares of Netflix, Inc. (NASDAQ:NFLX)

Revolve Wealth Partners LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 942 shares of the Internet television network’s stock after acquiring an additional 119 shares during the period. Revolve Wealth Partners LLC’s holdings in Netflix were worth $572,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NFLX. Spartan Planning & Wealth Management bought a new position in shares of Netflix in the third quarter worth about $26,000. VitalStone Financial LLC boosted its stake in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares during the period. Beaird Harris Wealth Management LLC lifted its position in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Netflix in the fourth quarter worth about $32,000. Finally, Blue Bell Private Wealth Management LLC lifted its position in shares of Netflix by 89.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after buying an additional 35 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 0.8 %

Shares of NASDAQ:NFLX opened at $677.69 on Thursday. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $689.88. The stock has a market cap of $292.08 billion, a P/E ratio of 47.03, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. The business’s 50 day moving average is $623.78 and its 200 day moving average is $580.61. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. Netflix’s revenue was up 14.8% compared to the same quarter last year. Sell-side analysts predict that Netflix, Inc. will post 18.31 EPS for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of research analyst reports. CICC Research initiated coverage on Netflix in a research report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a research report on Friday, April 19th. Guggenheim boosted their target price on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Piper Sandler boosted their target price on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Morgan Stanley boosted their target price on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $633.53.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total value of $758,889.18. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,772,972.90. The disclosure for this sale can be found here. Insiders have sold a total of 69,425 shares of company stock valued at $41,919,791 over the last quarter. 1.76% of the stock is owned by corporate 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.