Correct Capital Wealth Management Buys New Stake in Netflix, Inc. (NASDAQ:NFLX)

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

Several other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its position in shares of Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after buying an additional 110,432 shares in the last quarter. PharVision Advisers LLC purchased a new stake in shares of Netflix during the 4th quarter valued at $873,000. New England Research & Management Inc. raised its position in shares of Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after buying an additional 1,268 shares in the last quarter. First National Trust Co raised its position in shares of Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after buying an additional 12 shares in the last quarter. Finally, Xcel Wealth Management LLC raised its position in shares of Netflix by 15.2% during the 1st quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock valued at $459,000 after buying an additional 65 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of recent research reports. Macquarie boosted their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Morgan Stanley lifted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Barclays reissued a "sell" rating and set a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Netflix from $1,220.00 to $1,230.00 and gave the company a "neutral" rating in a report on Friday. Finally, FBN Securities assumed coverage on shares of Netflix in a research report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,214.52.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded down $8.51 during trading on Friday, hitting $1,242.08. The company's stock had a trading volume of 2,964,301 shares, compared to its average volume of 3,768,052. The company has a 50-day moving average of $1,219.93 and a 200-day moving average of $1,046.88. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $528.59 billion, a price-to-earnings ratio of 58.70, a P/E/G ratio of 2.34 and a beta of 1.59.

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 the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 620 shares of Netflix stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock valued at $223,307,201 in the last three months. 1.37% of the stock is currently owned by insiders.

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.