Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by WJ Wealth Management LLC

WJ Wealth Management LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,786 shares of the Internet television network’s stock after acquiring an additional 36 shares during the quarter. WJ Wealth Management LLC’s holdings in Netflix were worth $1,085,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NFLX. Sandy Cove Advisors LLC lifted its holdings in Netflix by 12.8% during the 1st quarter. Sandy Cove Advisors LLC now owns 1,339 shares of the Internet television network’s stock worth $813,000 after buying an additional 152 shares during the last quarter. Trilogy Capital Inc. purchased a new stake in Netflix during the first quarter worth approximately $549,000. Cornerstone Wealth Group LLC boosted its holdings in Netflix by 62.6% in the first quarter. Cornerstone Wealth Group LLC now owns 1,223 shares of the Internet television network’s stock valued at $743,000 after purchasing an additional 471 shares in the last quarter. Merrion Investment Management Co LLC raised its holdings in Netflix by 4.4% during the first quarter. Merrion Investment Management Co LLC now owns 950 shares of the Internet television network’s stock worth $577,000 after purchasing an additional 40 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in shares of Netflix by 11.7% during the 1st quarter. New Mexico Educational Retirement Board now owns 25,821 shares of the Internet television network’s stock worth $15,682,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX traded down $9.46 during mid-day trading on Friday, reaching $674.88. 3,412,391 shares of the company’s stock were exchanged, compared to its average volume of 2,746,538. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $689.88. The company has a market cap of $290.87 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 1.46 and a beta of 1.26. The company has a 50-day simple moving average of $628.93 and a two-hundred day simple moving average of $585.07.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping 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 company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter last year, the business posted $2.88 earnings per share. Netflix’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts predict that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Canaccord Genuity Group reissued a “hold” rating and issued a $585.00 target price (down from $720.00) on shares of Netflix in a report on Friday, April 19th. Pivotal Research raised their price target on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Piper Sandler boosted their price objective on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Canaccord Genuity Group downgraded Netflix from a “buy” rating to a “hold” rating and decreased their price objective for the company from $720.00 to $585.00 in a report on Friday, April 19th. 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 stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $633.53.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Netflix news, Chairman Reed Hastings sold 19,943 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $36,114.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,425 shares of company stock worth $41,919,791. Corporate insiders own 1.76% of the company’s stock.

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.