Arcus Capital Partners LLC Invests $279,000 in Netflix, Inc. $NFLX

Arcus Capital Partners LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 208 shares of the Internet television network’s stock, valued at approximately $279,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock valued at $35,433,585,000 after buying an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock valued at $10,940,505,000 after buying an additional 304,399 shares during the period. Alliancebernstein L.P. raised its holdings in Netflix by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock valued at $4,844,436,000 after buying an additional 53,611 shares during the period. Invesco Ltd. raised its holdings in Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock valued at $4,350,083,000 after buying an additional 356,617 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Netflix by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock valued at $4,089,765,000 after buying an additional 148,675 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock opened at $1,199.36 on Friday. Netflix, Inc. has a one year low of $736.23 and a one year high of $1,341.15. The company has a market cap of $509.64 billion, a PE ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The business has a 50-day simple moving average of $1,213.47 and a 200-day simple moving average of $1,177.58.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the company posted $4.88 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research analyst reports. Zacks Research lowered shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Loop Capital upgraded shares of Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. Piper Sandler lifted their target price on Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. TD Cowen dropped their target price on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Robert W. Baird lifted their target price on Netflix from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,339.81.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 424 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the transaction, the insider directly owned 31,610 shares of the company’s stock, valued at $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares of the company’s stock, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock valued at $122,710,980 over the last three months. 1.37% of the stock is owned by corporate insiders.

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.