467 Shares in Netflix, Inc. (NASDAQ:NFLX) Acquired by Correct Capital Wealth Management

Correct Capital Wealth Management purchased a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 467 shares of the Internet television network's stock, valued at approximately $435,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fullcircle Wealth LLC boosted its holdings in Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after acquiring an additional 9 shares during the last quarter. Warwick Investment Management Inc. boosted its holdings in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after acquiring an additional 10 shares during the last quarter. MRP Capital Investments LLC boosted its holdings in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after acquiring an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC boosted its holdings in Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after acquiring an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. boosted its holdings in Netflix by 0.3% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after acquiring an additional 10 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Pivotal Research restated a "buy" rating on shares of Netflix in a research note on Thursday. Evercore ISI restated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. KeyCorp boosted their price objective on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Morgan Stanley boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,195.30.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the transaction, the director directly owned 7,969 shares of the company's stock, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock valued at $223,307,201 over the last three months. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $37.69 during trading on Thursday, reaching $1,250.59. The stock had a trading volume of 4,228,410 shares, compared to its average volume of 3,771,046. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $532.21 billion, a PE ratio of 59.10, a P/E/G ratio of 2.34 and a beta of 1.59. The firm's 50 day moving average price is $1,217.58 and its two-hundred day moving average price is $1,044.54.

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

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.