King Luther Capital Management Corp Purchases 7,265 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• King Luther Capital Management Corp increased its stake in Netflix by 6.1%, acquiring an additional 7,265 shares, bringing their total holdings to 125,715 shares valued at approximately $117.23 million.
• Insider activity showed that Director Jay C. Hoag sold 31,750 shares at an average price of $1,252.35, resulting in a significant decrease in his position.
• Analysts have raised their price targets for Netflix, with Oppenheimer setting a new target price of $1,425.00, reflecting a positive outlook on the stock.

King Luther Capital Management Corp boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,715 shares of the Internet television network's stock after acquiring an additional 7,265 shares during the period. King Luther Capital Management Corp's holdings in Netflix were worth $117,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fullcircle Wealth LLC boosted its stake 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 buying an additional 9 shares in the last quarter. Mission Creek Capital Partners Inc. raised its position 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 purchasing an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC raised its position in Netflix by 4.4% in the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after purchasing an additional 10 shares during the last quarter. Financial Enhancement Group LLC raised its position in Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after purchasing an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC raised its position in Netflix by 1.4% in the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock valued at $659,000 after purchasing an additional 10 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Jefferies Financial Group set a $1,500.00 target price on Netflix and gave the company a "buy" rating in a research report on Friday, July 18th. Barclays reiterated a "sell" rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Macquarie lifted their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Finally, The Goldman Sachs Group lifted their target price on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Price Performance

Shares of NFLX traded up $31.27 during midday trading on Friday, reaching $1,211.64. The stock had a trading volume of 3,811,512 shares, compared to its average volume of 3,954,067. The company has a market capitalization of $514.86 billion, a price-to-earnings ratio of 51.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a 12-month low of $622.99 and a 12-month high of $1,341.15. The company's 50-day moving average is $1,232.25 and its 200 day moving average is $1,095.21. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $4.88 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, insider Cletus R. Willems sold 238 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total transaction of $274,537.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the transaction, the chief executive officer directly owned 12,781 shares of the company's stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,226 shares of company stock worth $183,849,784 over the last three months. Corporate insiders own 1.37% of the company's stock.

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.