Horizon Wealth Management LLC Has $336,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Horizon Wealth Management LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 28.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 553 shares of the Internet television network’s stock after buying an additional 124 shares during the period. Horizon Wealth Management LLC’s holdings in Netflix were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Capital World Investors raised its stake in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. Norges Bank bought a new stake in Netflix in the fourth quarter valued at approximately $2,558,598,000. Fisher Asset Management LLC increased its stake in Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after purchasing an additional 78,298 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NFLX shares. JPMorgan Chase & Co. upped their target price on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler increased their target price on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Wedbush restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Monday, May 20th. Evercore ISI increased their target price on shares of Netflix from $650.00 to $700.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. Finally, Guggenheim increased their target price on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $633.53.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Anne M. Sweeney sold 633 shares of the company’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 can be accessed through the SEC website. Also, Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,859 shares of company stock valued at $29,365,893. Insiders own 1.76% of the company’s stock.

Netflix Stock Down 0.4 %

NFLX traded down $2.94 during trading on Monday, reaching $671.94. The stock had a trading volume of 1,171,300 shares, compared to its average volume of 3,969,471. Netflix, Inc. has a one year low of $344.73 and a one year high of $689.88. 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’s 50 day moving average is $628.93 and its two-hundred day moving average is $585.07. The company has a market capitalization of $289.61 billion, a price-to-earnings ratio of 46.18, a P/E/G ratio of 1.46 and a beta of 1.27.

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

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.