Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its holdings in Netflix by 27.7%, owning a total of 17,470 shares, valued at approximately $16.29 million.
• Insiders sold a total of 185,923 shares of Netflix stock in the past three months, amounting to $222.45 million in value, with insider ownership now at 1.37%.
• Netflix reported earnings of $7.19 per share for the last quarter, surpassing analyst expectations, and the stock has a current market capitalization of $501.63 billion.

HB Wealth Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,470 shares of the Internet television network's stock after acquiring an additional 3,789 shares during the quarter. HB Wealth Management LLC's holdings in Netflix were worth $16,292,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC increased its position in Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the period. Geode Capital Management LLC boosted its stake in Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after purchasing an additional 175,596 shares in the last quarter. GAMMA Investing LLC boosted its stake in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Netflix by 1.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock valued at $4,582,568,000 after purchasing an additional 82,564 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after purchasing an additional 570,674 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In other Netflix 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 value of $797,840.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,923 shares of company stock valued at $222,445,095. Insiders own 1.37% of the company's stock.

Netflix Price Performance

NASDAQ NFLX opened at $1,180.49 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $501.63 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. The company has a 50 day moving average price of $1,236.44 and a two-hundred day moving average price of $1,071.39. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on NFLX shares. Guggenheim reaffirmed a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Cfra Research raised Netflix to a "strong-buy" rating in a report on Monday, April 28th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday. Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, 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. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

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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