Revolve Wealth Partners LLC Purchases 48 Shares of Netflix, Inc. (NASDAQ:NFLX)

Revolve Wealth Partners LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,071 shares of the Internet television network’s stock after buying an additional 48 shares during the period. Revolve Wealth Partners LLC’s holdings in Netflix were worth $999,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NFLX. GAMMA Investing LLC raised its stake in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the last quarter. Norges Bank bought a new stake in Netflix in the fourth quarter valued at $5,019,087,000. Proficio Capital Partners LLC increased its stake in Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after purchasing an additional 856,307 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after purchasing an additional 743,724 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NFLX shares. Canaccord Genuity Group lifted their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $1,200.00 price target on shares of Netflix in a research note on Monday, May 5th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,149.91.

Netflix Stock Down 0.7%

Netflix stock opened at $1,241.47 on Friday. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The stock has a market cap of $528.33 billion, a PE ratio of 62.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The firm’s 50-day simple moving average is $1,087.80 and its 200 day simple moving average is $988.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the firm earned $8.28 EPS. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director now directly owns 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 available at the SEC website. Also, Director Ann Mather sold 1,090 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Insiders sold 153,390 shares of company stock valued at $170,509,439 in the last three months. Company insiders own 1.37% of the company’s stock.

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.