Invesco Ltd. Buys 1,131,860 Shares of Netflix, Inc. (NASDAQ:NFLX)

Invesco Ltd. grew its stake in shares of Netflix, Inc. (NASDAQ:NFLXGet Rating) by 44.8% in the first quarter, HoldingsChannel.com reports. The firm owned 3,659,249 shares of the Internet television network’s stock after purchasing an additional 1,131,860 shares during the period. Invesco Ltd.’s holdings in Netflix were worth $1,370,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Icapital Wealth LLC bought a new stake in Netflix during the 1st quarter worth approximately $25,000. Lloyd Advisory Services LLC. increased its holdings in Netflix by 2,075.0% during the 1st quarter. Lloyd Advisory Services LLC. now owns 87 shares of the Internet television network’s stock worth $33,000 after purchasing an additional 83 shares in the last quarter. GoalVest Advisory LLC bought a new position in shares of Netflix in the first quarter valued at approximately $33,000. Mascoma Wealth Management LLC bought a new position in shares of Netflix in the first quarter valued at approximately $34,000. Finally, City State Bank bought a new position in shares of Netflix in the fourth quarter valued at approximately $35,000. 75.52% of the stock is owned by institutional investors.

Netflix Stock Up 2.7 %

NASDAQ NFLX opened at $233.57 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $103.87 billion, a PE ratio of 20.76, a PEG ratio of 1.59 and a beta of 1.34. Netflix, Inc. has a 1 year low of $162.71 and a 1 year high of $700.99. The business’s 50-day moving average is $218.64 and its 200 day moving average is $249.51.

Netflix (NASDAQ:NFLXGet Rating) last posted its earnings results on Tuesday, July 19th. The Internet television network reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.24. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.03 billion. Netflix had a return on equity of 30.07% and a net margin of 16.42%. Netflix’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. Sell-side analysts forecast that Netflix, Inc. will post 10.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NFLX shares. Credit Suisse Group reduced their target price on Netflix from $350.00 to $263.00 and set a “neutral” rating for the company in a report on Wednesday, July 20th. Truist Financial reduced their target price on Netflix from $300.00 to $210.00 and set a “hold” rating for the company in a report on Thursday, June 30th. Jefferies Financial Group reduced their price objective on Netflix from $243.00 to $230.00 in a report on Wednesday. Benchmark downgraded Netflix from a “hold” rating to a “sell” rating and set a $157.00 target price on the stock. in a research report on Tuesday, June 14th. Finally, Morgan Stanley increased their target price on Netflix from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 20th. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $308.74.

About Netflix

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Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

Further Reading

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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