WT Wealth Management Boosts Position in Netflix, Inc. (NASDAQ:NFLX)

WT Wealth Management grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,357 shares of the Internet television network’s stock after acquiring an additional 36 shares during the period. WT Wealth Management’s holdings in Netflix were worth $2,565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. GQG Partners LLC purchased a new position in Netflix in the first quarter valued at $1,450,476,000. Jennison Associates LLC grew its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the period. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix in the first quarter valued at approximately $372,293,000. Swedbank AB acquired a new position in shares of Netflix during the 1st quarter worth approximately $216,538,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Netflix during the 2nd quarter valued at approximately $183,365,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

NFLX stock traded down $6.47 during midday trading on Tuesday, hitting $765.60. 2,145,574 shares of the stock were exchanged, compared to its average volume of 3,727,123. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $329.97 billion, a price-to-earnings ratio of 53.21, a PEG ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a fifty-two week low of $395.62 and a fifty-two week high of $773.00. The stock’s 50-day moving average price is $699.16 and its 200-day moving average price is $656.21.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at $26,975,430. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 229,711 shares of company stock valued at $153,905,830. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of several recent analyst reports. UBS Group boosted their price target on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI boosted their price objective on Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday. Sanford C. Bernstein raised their target price on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday. Loop Capital raised their price target on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, TD Cowen raised their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday. Two investment 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 stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Company 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.