Brookstone Capital Management Has $4.56 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Brookstone Capital Management boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,039 shares of the Internet television network’s stock after acquiring an additional 855 shares during the quarter. Brookstone Capital Management’s holdings in Netflix were worth $4,558,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Valued Wealth Advisors LLC increased 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 buying an additional 20 shares in the last quarter. AlphaMark Advisors LLC increased its stake in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. Indiana Trust & Investment Management CO increased its stake in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Netflix in the second quarter valued at $38,000. Finally, VitalStone Financial LLC increased 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 valued at $30,000 after buying an additional 56 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Argus raised their target price on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Rosenblatt Securities raised their price target on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Piper Sandler raised their price target on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Finally, Loop Capital raised their price target on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $681.21.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 19,943 shares of Netflix stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $36,114.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, Director Jay C. Hoag sold 37,675 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 19,943 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the transaction, the chairman now directly owns 57 shares in the company, valued at approximately $36,114.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,893 shares of company stock valued at $84,412,483. 1.76% of the stock is owned by insiders.

Netflix Stock Up 1.6 %

Shares of NASDAQ:NFLX traded up $10.85 during trading on Friday, hitting $674.07. 3,511,014 shares of the company’s stock traded hands, compared to its average volume of 3,896,356. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $697.49. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap of $290.52 billion, a price-to-earnings ratio of 46.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The company has a 50-day moving average price of $654.47 and a 200-day moving average price of $621.20.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter last year, the firm earned $3.29 EPS. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.