Advisory Resource Group, an institutional investor, recently acquired a new stake in Netflix, Inc. The company purchased 473 shares of Netflix, valued at approximately $208,000. This purchase reflects the confidence of institutional investors in the future growth and potential of Netflix.
The purchase Advisory Resource Group follows the footsteps of other institutional investors and hedge funds who have also added or reduced their stakes in Netflix. For example, Baldrige Asset Management LLC increased its holdings in the first quarter, Manchester Capital Management LLC boosted its holdings a significant percentage, and Retirement Group LLC saw a 52.6% increase in its holdings. These movements in the ownership of Netflix stock demonstrate the ongoing interest in the company institutional investors.
Netflix, Inc. is a popular Internet television network that offers a wide range of content including TV series, documentaries, feature films, and mobile games. It provides streaming content to its members through various internet-connected devices such as TVs, digital video players, set-top boxes, and mobile devices.
The stock price of Netflix currently stands at $394.40, with a market capitalization of $174.78 billion. The company has a favorable financial outlook, with strong quarterly earnings and revenue growth. In its most recent quarterly report, Netflix surpassed analysts’ expectations with a higher-than-estimated EPS of $3.29 and revenue of $8.19 billion.
It’s worth noting that Netflix has seen some insider activity recently. CEO Theodore A. Sarandos sold a significant number of shares in August, which was disclosed in documents filed with the Securities and Exchange Commission. However, despite this insider selling, the majority of the company’s stock is still owned institutional investors and hedge funds.
Analysts have given Netflix a moderate buy rating, with an average target price of $431.44. This reflects the positive sentiment and expectations surrounding the company’s future performance.
Overall, the purchase of a new stake in Netflix Advisory Resource Group and the continued interest from other institutional investors demonstrate the confidence in the company’s growth potential. With its extensive content library and growing user base, Netflix remains well-positioned in the competitive streaming industry.
Sources:
– Securities & Exchange Commission – SEC filing in https://www.sec.gov/Archives/edgar/data/1065280/000106528020000042/xslForm13F_X01/infotable.xml
– MarketBeat – Financial data and analysis in https://www.marketbeat.com/stocks/
– Netflix – Corporate information in https://www.netflixinvestor.com/
– MarketBeat Editorial Team – Review of the story prior to publication
