Commonwealth Financial Services LLC Takes $220,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Commonwealth Financial Services LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 236 shares of the Internet television network’s stock, valued at approximately $220,000.

Several other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Netflix by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,811,760 shares of the Internet television network’s stock valued at $2,622,051,000 after buying an additional 143,368 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Netflix in the 1st quarter valued at $75,826,000. Citizens Financial Group Inc. RI boosted its holdings in shares of Netflix by 29.1% in the 1st quarter. Citizens Financial Group Inc. RI now owns 9,400 shares of the Internet television network’s stock valued at $8,766,000 after buying an additional 2,120 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new position in shares of Netflix in the 1st quarter valued at $105,000. Finally, Strategy Asset Managers LLC boosted its holdings in shares of Netflix by 146.3% in the 1st quarter. Strategy Asset Managers LLC now owns 1,313 shares of the Internet television network’s stock valued at $1,224,000 after buying an additional 780 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $1,178.48 on Thursday. The company has a 50-day simple moving average of $1,232.15 and a 200-day simple moving average of $1,088.90. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $500.77 billion, a PE ratio of 50.21, a P/E/G ratio of 1.93 and a beta of 1.59. Netflix, Inc. has a 52-week low of $610.64 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.88 EPS. Equities research analysts predict 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, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reed Hastings sold 26,933 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the transaction, the director owned 394 shares of the company’s stock, valued at $477,394.04. This trade represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,584 shares of company stock valued at $185,411,484. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NFLX shares. Seaport Res Ptn cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 6th. Morgan Stanley restated an “equal weight” rating on shares of Netflix in a report on Monday, July 21st. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Citigroup reiterated a “neutral” rating and set a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Guggenheim reiterated a “buy” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,297.66.

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.