Sanctuary Advisors LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Sanctuary Advisors LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 70,967 shares of the Internet television network’s stock, valued at approximately $47,894,000.

Other hedge funds have also modified their holdings of the company. Denver PWM LLC acquired a new position in Netflix in the second quarter valued at about $25,000. Valued Wealth Advisors LLC raised its stake in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. VitalStone Financial LLC boosted its holdings in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Netflix during the 4th quarter valued at $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $706.13 on Wednesday. The company has a fifty day moving average price of $672.13 and a 200 day moving average price of $646.29. The firm has a market cap of $304.34 billion, a PE ratio of 49.00, a PEG ratio of 1.44 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $725.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $3.29 earnings per share. Research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on NFLX shares. Rosenblatt Securities restated a “neutral” rating and set a $635.00 target price on shares of Netflix in a report on Friday, September 20th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. China Renaissance initiated coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price for the company. Piper Sandler raised their price target on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Sanford C. Bernstein increased their price objective on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $686.03.

Insider Activity

In related news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the transaction, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the sale, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The disclosure for this sale can be found here. Insiders have sold 179,494 shares of company stock worth $118,230,884 over the last ninety days. Insiders own 1.76% 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.