Netflix, Inc. (NASDAQ:NFLX) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 32.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 96,774 shares of the Internet television network’s stock after acquiring an additional 23,656 shares during the period. King Luther Capital Management Corp’s holdings in Netflix were worth $68,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Denver PWM LLC acquired a new position in shares of Netflix during the second quarter valued at $25,000. Proffitt & Goodson Inc. increased its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Netflix in the third quarter valued at approximately $37,000. 80.93% of the stock is owned by institutional investors.

Insider Transactions at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. This trade represents a 99.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,866 shares of company stock valued at $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NFLX shares. Sanford C. Bernstein boosted their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. UBS Group lifted their target price on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Benchmark reissued a “sell” rating and issued a $545.00 price target on shares of Netflix in a report on Tuesday, October 15th. Finally, TD Cowen lifted their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $758.76.

Netflix Trading Up 1.4 %

Shares of Netflix stock opened at $883.85 on Thursday. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $890.60. The firm has a market capitalization of $377.81 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company’s fifty day moving average price is $747.20 and its two-hundred day moving average price is $686.80.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Netflix 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.