Executive Wealth Management LLC Increases Position in Netflix, Inc. (NASDAQ:NFLX)

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Executive Wealth Management LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,626 shares of the Internet television network’s stock after purchasing an additional 441 shares during the quarter. Executive Wealth Management LLC’s holdings in Netflix were worth $2,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its holdings in Netflix by 5.4% in the first quarter. Parkside Financial Bank & Trust now owns 529 shares of the Internet television network’s stock valued at $189,000 after buying an additional 27 shares during the last quarter. Investment House LLC increased its holdings in Netflix by 3.1% in the first quarter. Investment House LLC now owns 954 shares of the Internet television network’s stock valued at $340,000 after buying an additional 29 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA increased its holdings in Netflix by 0.4% in the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,290 shares of the Internet television network’s stock valued at $2,599,000 after buying an additional 30 shares during the last quarter. Abbrea Capital LLC increased its holdings in Netflix by 2.4% in the second quarter. Abbrea Capital LLC now owns 1,382 shares of the Internet television network’s stock valued at $508,000 after buying an additional 32 shares during the last quarter. Finally, Harfst & Associates Inc. increased its holdings in Netflix by 3.5% in the first quarter. Harfst & Associates Inc. now owns 992 shares of the Internet television network’s stock valued at $353,000 after buying an additional 34 shares during the last quarter. 76.94% of the stock is currently owned by institutional investors.

Shares of NFLX opened at $312.28 on Wednesday. Netflix, Inc. has a fifty-two week low of $231.23 and a fifty-two week high of $386.80. The firm has a market capitalization of $135.26 billion, a P/E ratio of 116.52, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The business’s 50-day simple moving average is $343.27. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.06.

Netflix (NASDAQ:NFLX) last announced its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Netflix, Inc. will post 3.28 earnings per share for the current fiscal year.

Several equities analysts recently commented on NFLX shares. Morgan Stanley set a $450.00 target price on Netflix and gave the company a “buy” rating in a report on Friday, August 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $370.00 target price (up previously from $350.00) on shares of Netflix in a report on Wednesday, July 10th. BMO Capital Markets dropped their target price on Netflix from $470.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Citigroup dropped their target price on Netflix from $420.00 to $410.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, ValuEngine lowered Netflix from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $390.47.

In other news, CEO Reed Hastings sold 57,414 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the completion of the sale, the chief executive officer now owns 57,414 shares in the company, valued at $20,030,596.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 1,208 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $375.00, for a total transaction of $453,000.00. Following the sale, the director now owns 357 shares of the company’s stock, valued at approximately $133,875. The disclosure for this sale can be found here. Insiders have sold 165,862 shares of company stock valued at $56,966,404 in the last quarter. Insiders own 3.72% of the company’s stock.

Netflix Profile

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

See Also: Coverage Ratio

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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