Whitaker Myers Wealth Managers LTD. Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Whitaker Myers Wealth Managers LTD. raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 68.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,013 shares of the Internet television network's stock after acquiring an additional 411 shares during the quarter. Whitaker Myers Wealth Managers LTD.'s holdings in Netflix were worth $945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the 4th quarter worth about $27,000. Pathway Financial Advisers LLC raised its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after buying an additional 14 shares in the last quarter. Transce3nd LLC bought a new position in Netflix in the fourth quarter worth about $32,000. Pineridge Advisors LLC lifted its holdings in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after buying an additional 40 shares during the period. Finally, Copia Wealth Management purchased a new stake in Netflix in the fourth quarter worth about $37,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,241.47 on Friday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. The firm has a market capitalization of $528.33 billion, a price-to-earnings ratio of 62.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $1,087.80 and a 200 day moving average of $988.53.

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, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter last year, the company posted $8.28 EPS. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,390 shares of company stock valued at $170,509,439. Company insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on NFLX. Piper Sandler set a $1,150.00 price objective on Netflix and gave the company an "overweight" rating in a research report on Monday, April 21st. Guggenheim reiterated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Benchmark reissued a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Citigroup restated a "neutral" rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Finally, Bank of America raised their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,149.91.

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.

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