Soltis Investment Advisors LLC Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Soltis Investment Advisors LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 29.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,252 shares of the Internet television network’s stock after buying an additional 285 shares during the period. Soltis Investment Advisors LLC’s holdings in Netflix were worth $760,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NFLX. Cetera Advisor Networks LLC boosted its stake in shares of Netflix by 0.6% during the first quarter. Cetera Advisor Networks LLC now owns 33,086 shares of the Internet television network’s stock valued at $20,094,000 after acquiring an additional 186 shares during the last quarter. Cetera Advisors LLC lifted its holdings in Netflix by 212.0% in the 1st quarter. Cetera Advisors LLC now owns 43,169 shares of the Internet television network’s stock valued at $26,218,000 after purchasing an additional 29,333 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Netflix by 126.3% during the 1st quarter. Cetera Investment Advisers now owns 92,315 shares of the Internet television network’s stock worth $56,065,000 after purchasing an additional 51,513 shares during the last quarter. Invst LLC grew its holdings in shares of Netflix by 258.9% during the first quarter. Invst LLC now owns 3,822 shares of the Internet television network’s stock worth $2,348,000 after buying an additional 2,757 shares in the last quarter. Finally, PGGM Investments raised its position in shares of Netflix by 55.4% in the first quarter. PGGM Investments now owns 41,421 shares of the Internet television network’s stock valued at $25,156,000 after buying an additional 14,759 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 1.8 %

Shares of NASDAQ NFLX traded down $11.21 during midday trading on Friday, reaching $613.64. 3,523,003 shares of the company’s stock were exchanged, compared to its average volume of 3,930,496. The stock has a market capitalization of $263.36 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $697.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The business’s fifty day moving average price is $656.10 and its two-hundred day moving average price is $612.84.

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 the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for 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 revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.29 EPS. Analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 19,943 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $36,114.06. The disclosure for this sale can be found here. Insiders have sold 73,415 shares of company stock valued at $47,477,222 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NFLX shares. Guggenheim raised their target price on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Wells Fargo & Company lifted their price objective on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Redburn Atlantic increased their target price on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Evercore ISI raised their price target on Netflix from $700.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $681.21.

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.