Canvas Wealth Advisors LLC Has $1.31 Million Stock Holdings in Netflix, Inc. $NFLX

Canvas Wealth Advisors LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 19.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 980 shares of the Internet television network’s stock after acquiring an additional 162 shares during the period. Canvas Wealth Advisors LLC’s holdings in Netflix were worth $1,312,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Resurgent Financial Advisors LLC raised its position in shares of Netflix by 234.4% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network’s stock valued at $942,000 after acquiring an additional 708 shares during the period. MRA Advisory Group increased its stake in Netflix by 28.4% during the 2nd quarter. MRA Advisory Group now owns 919 shares of the Internet television network’s stock worth $1,231,000 after purchasing an additional 203 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Netflix by 42.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network’s stock worth $412,059,000 after purchasing an additional 130,946 shares in the last quarter. Sava Infond d.o.o. increased its stake in Netflix by 25.1% during the 2nd quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network’s stock worth $2,002,000 after purchasing an additional 300 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its stake in Netflix by 1.4% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 989 shares of the Internet television network’s stock worth $1,324,000 after purchasing an additional 14 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,290,418.40. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director directly owned 394 shares of the company’s stock, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock valued at $122,710,980 in the last ninety days. 1.37% of the stock is currently owned by insiders.

Netflix Price Performance

Shares of NFLX opened at $1,199.36 on Monday. The stock has a market capitalization of $509.64 billion, a P/E ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a twelve month low of $736.23 and a twelve month high of $1,341.15. The company has a 50 day moving average of $1,213.47 and a 200-day moving average of $1,179.41. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

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

Analyst Ratings Changes

NFLX has been the subject of a number of research reports. Wall Street Zen cut Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Pivotal Research reissued a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. JPMorgan Chase & Co. increased their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Morgan Stanley set a $1,500.00 target price on Netflix in a research note on Monday, October 13th. Finally, Rosenblatt Securities raised their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,339.81.

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.