Legacy Capital Wealth Partners LLC Acquires 69 Shares of Netflix, Inc. (NASDAQ:NFLX)

Legacy Capital Wealth Partners LLC raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 962 shares of the Internet television network’s stock after purchasing an additional 69 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Netflix were worth $468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Atlantic Union Bankshares Corp lifted its holdings in Netflix by 22.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,612 shares of the Internet television network’s stock worth $1,364,000 after buying an additional 654 shares in the last quarter. Brookstone Capital Management grew its position in shares of Netflix by 34.4% during the 3rd quarter. Brookstone Capital Management now owns 6,514 shares of the Internet television network’s stock worth $2,617,000 after buying an additional 1,666 shares during the period. Lederer & Associates Investment Counsel CA bought a new stake in shares of Netflix during the third quarter worth approximately $1,078,000. Busey Trust CO acquired a new position in Netflix in the third quarter valued at approximately $201,000. Finally, RMR Wealth Builders boosted its stake in Netflix by 11.7% in the third quarter. RMR Wealth Builders now owns 2,651 shares of the Internet television network’s stock valued at $1,001,000 after acquiring an additional 278 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NFLX shares. KeyCorp boosted their target price on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Loop Capital lifted their price target on shares of Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Wells Fargo & Company upped their price objective on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group lifted their target price on Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $630.58.

Insider Activity

In other news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 20,734 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $567.16, for a total transaction of $11,759,495.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,573 shares of company stock worth $89,548,241. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $561.23 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $604.54 and a 200 day simple moving average of $521.57. Netflix, Inc. has a 1-year low of $315.62 and a 1-year high of $639.00. The stock has a market cap of $241.83 billion, a P/E ratio of 38.95, a PEG ratio of 1.37 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $2.88 earnings per share. Research analysts anticipate that Netflix, Inc. will post 18.13 earnings per share for the current year.

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.