Netflix, Inc. (NASDAQ:NFLX) Position Increased by Morse Asset Management Inc

Morse Asset Management Inc raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,283 shares of the Internet television network’s stock after buying an additional 1,301 shares during the quarter. Morse Asset Management Inc’s holdings in Netflix were worth $3,816,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Crumly & Associates Inc. lifted its position in shares of Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares in the last quarter. Venture Visionary Partners LLC lifted its position in shares of Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after purchasing an additional 1,318 shares in the last quarter. Malaga Cove Capital LLC lifted its position in shares of Netflix by 25.4% in the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after purchasing an additional 316 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of Netflix by 8.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,793 shares of the Internet television network’s stock worth $1,847,000 after purchasing an additional 284 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in shares of Netflix by 14.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,306 shares of the Internet television network’s stock worth $636,000 after purchasing an additional 165 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NFLX shares. Piper Sandler increased their price target on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Wedbush restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Monday, May 20th. Oppenheimer restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Friday, April 19th. BMO Capital Markets restated an “outperform” rating and issued a $713.00 price objective (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Finally, Argus increased their price objective on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $681.21.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The disclosure for this sale can be found here. Insiders sold a total of 71,385 shares of company stock valued at $44,469,351 over the last ninety days. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of Netflix stock traded down $2.72 during midday trading on Friday, hitting $631.37. The company had a trading volume of 3,120,659 shares, compared to its average volume of 3,608,843. The business’s 50 day simple moving average is $658.05 and its two-hundred day simple moving average is $609.92. The stock has a market cap of $270.97 billion, a PE ratio of 43.81, a P/E/G ratio of 1.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 1.07. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $697.49.

Netflix (NASDAQ:NFLX) last announced 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 business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company posted $3.29 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.