Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Horizon Wealth Management LLC

Horizon Wealth Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 28.9% during the first quarter, HoldingsChannel.com reports. The fund owned 553 shares of the Internet television network’s stock after acquiring an additional 124 shares during the period. Horizon Wealth Management LLC’s holdings in Netflix were worth $336,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Spartan Planning & Wealth Management purchased a new position in Netflix during the third quarter worth approximately $26,000. VitalStone Financial LLC grew its stake in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Netflix during the 4th quarter worth $32,000. Finally, Indiana Trust & Investment Management CO grew its stake in Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

NFLX stock traded down $2.94 during midday trading on Monday, reaching $671.94. The company had a trading volume of 1,171,300 shares, compared to its average volume of 3,969,471. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $628.93 and a 200 day moving average price of $585.07. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $689.88. The firm has a market capitalization of $289.61 billion, a PE ratio of 46.18, a P/E/G ratio of 1.46 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.88 earnings per share. Analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anne M. Sweeney sold 633 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Netflix news, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The disclosure for this sale can be found here. Insiders have sold a total of 48,859 shares of company stock valued at $29,365,893 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Loop Capital upped their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of Netflix in a research note on Monday, June 17th. Bank of America upped their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Citigroup upped their price objective on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $633.53.

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.