Correct Capital Wealth Management Takes $435,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Correct Capital Wealth Management bought a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 467 shares of the Internet television network's stock, valued at approximately $435,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC lifted its position in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC lifted its position in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC lifted its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Finally, Norges Bank bought a new stake in Netflix during the fourth quarter worth about $5,019,087,000. Institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock worth $223,307,201 in the last three months. 1.37% of the stock is owned by corporate insiders.

Netflix Price Performance

Netflix stock opened at $1,279.74 on Thursday. The stock has a market capitalization of $544.62 billion, a price-to-earnings ratio of 60.51, a PEG ratio of 2.32 and a beta of 1.59. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The stock's 50 day moving average price is $1,217.58 and its two-hundred day moving average price is $1,044.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the business earned $8.28 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NFLX shares. Rosenblatt Securities upped their price objective on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Jefferies Financial Group boosted their target price on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Finally, BMO Capital Markets reissued an "outperform" rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,195.30.

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.

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