SouthState Corp Grows Stock Position in Netflix, Inc. (NASDAQ:NFLX)

SouthState Corp raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 331 shares of the Internet television network’s stock after acquiring an additional 27 shares during the quarter. SouthState Corp’s holdings in Netflix were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hohimer Wealth Management LLC acquired a new position in shares of Netflix during the 2nd quarter worth approximately $1,004,000. MGO Private Wealth LLC acquired a new position in shares of Netflix in the second quarter worth $214,000. Mayflower Financial Advisors LLC raised its holdings in shares of Netflix by 16.3% in the second quarter. Mayflower Financial Advisors LLC now owns 591 shares of the Internet television network’s stock worth $399,000 after acquiring an additional 83 shares during the last quarter. Range Financial Group LLC purchased a new stake in shares of Netflix in the second quarter valued at $240,000. Finally, TD Asset Management Inc boosted its stake in shares of Netflix by 1.1% during the second quarter. TD Asset Management Inc now owns 600,231 shares of the Internet television network’s stock valued at $405,084,000 after acquiring an additional 6,520 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on NFLX shares. Pivotal Research boosted their target price on shares of Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Guggenheim boosted their price objective on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. China Renaissance began coverage on shares of Netflix in a research note on Thursday. They issued a “hold” rating and a $680.00 target price for the company. Finally, UBS Group increased their price target on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Price Performance

NFLX opened at $683.62 on Friday. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $294.64 billion, a price-to-earnings ratio of 47.44, a PEG ratio of 1.44 and a beta of 1.27. The company has a fifty day simple moving average of $660.07 and a 200 day simple moving average of $633.26.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period last year, the firm earned $3.29 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jay C. Hoag sold 37,675 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $629.73, for a total value of $23,725,077.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders have sold 157,831 shares of company stock worth $102,721,884 in the last three months. 1.76% of the stock is owned by 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.