King Luther Capital Management Corp Buys 23,656 Shares of Netflix, Inc. (NASDAQ:NFLX)

King Luther Capital Management Corp increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 32.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 96,774 shares of the Internet television network’s stock after purchasing an additional 23,656 shares during the quarter. King Luther Capital Management Corp’s holdings in Netflix were worth $68,639,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NFLX. LGT Group Foundation purchased a new position in Netflix during the 1st quarter valued at $146,000. CreativeOne Wealth LLC lifted its stake in shares of Netflix by 80.1% during the 1st quarter. CreativeOne Wealth LLC now owns 2,520 shares of the Internet television network’s stock worth $1,531,000 after purchasing an additional 1,121 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Netflix by 23.3% during the 1st quarter. EP Wealth Advisors LLC now owns 11,002 shares of the Internet television network’s stock worth $6,682,000 after purchasing an additional 2,080 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Netflix by 10.2% during the 1st quarter. Advisors Asset Management Inc. now owns 5,092 shares of the Internet television network’s stock worth $3,093,000 after purchasing an additional 471 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in Netflix by 24.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,570 shares of the Internet television network’s stock valued at $2,168,000 after buying an additional 710 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $883.85 on Thursday. The stock has a market capitalization of $377.81 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $890.60. The stock’s 50-day moving average price is $747.20 and its 200 day moving average price is $686.80. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. Loop Capital upped their target price on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. 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, October 18th. Barclays restated an “underweight” rating and issued a $550.00 target price on shares of Netflix in a research report on Friday, October 18th. Finally, Guggenheim increased their price target on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $758.76.

Insider Activity at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is owned by corporate insiders.

Netflix 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.