Golden State Wealth Management LLC Increases Position in Netflix, Inc. (NASDAQ:NFLX)

Golden State Wealth Management LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,129 shares of the Internet television network’s stock after buying an additional 40 shares during the period. Golden State Wealth Management LLC’s holdings in Netflix were worth $1,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after purchasing an additional 144 shares during the last quarter. BIP Wealth LLC increased its stake in Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock worth $403,000 after buying an additional 87 shares during the period. Proficio Capital Partners LLC increased its stake in Netflix by 39.1% in the 4th quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network’s stock worth $1,926,000 after buying an additional 607 shares during the period. Finally, Ethos Financial Group LLC lifted its holdings in Netflix by 4.9% during the 4th quarter. Ethos Financial Group LLC now owns 472 shares of the Internet television network’s stock valued at $421,000 after buying an additional 22 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group increased their price objective on Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. FBN Securities assumed coverage on Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective on the stock. Robert W. Baird lifted their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Finally, Piper Sandler set a $1,150.00 price target on Netflix and gave the stock an “overweight” rating in a research report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $1,182.58.

Netflix Trading Up 0.8%

Shares of Netflix stock opened at $1,295.24 on Friday. The firm’s 50 day simple moving average is $1,207.87 and its two-hundred day simple moving average is $1,036.59. The firm has a market capitalization of $551.21 billion, a price-to-earnings ratio of 61.21, a PEG ratio of 2.35 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the prior year, the firm earned $8.28 EPS. Analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the sale, the director directly owned 79,040 shares of the company’s stock, valued at $87,099,708.80. This represents a 29.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reed Hastings sold 26,977 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the transaction, the director directly owned 394 shares of the company’s stock, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is owned by corporate insiders.

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.