Wooster Corthell Wealth Management Inc. Purchases New Shares in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Wooster Corthell Wealth Management Inc. acquired a stake in Netflix, Inc. during Q1, purchasing 341 shares valued at around $318,000.
• Significant increases in holdings from multiple institutional investors were noted, with GAMMA Investing LLC growing its stake by 109,524.3% to now own nearly 8.84 million shares.
• As of the latest reports, Netflix stock has a market cap of $496.63 billion and the company reported earnings of $7.19 EPS, exceeding analyst expectations.

Wooster Corthell Wealth Management Inc. acquired a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 341 shares of the Internet television network's stock, valued at approximately $318,000.

A number of other institutional investors also recently made changes to their positions in NFLX. Resurgent Financial Advisors LLC lifted its stake in Netflix by 234.4% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after acquiring an additional 708 shares in the last quarter. Janus Henderson Group PLC raised its stake 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 worth $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC purchased a new stake in shares of Netflix during the 4th quarter worth about $873,000. New England Research & Management Inc. raised its position in Netflix by 148.5% during the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after purchasing an additional 3,137 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wedbush reissued an "outperform" rating and issued a $1,500.00 price objective (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a report on Monday, April 28th. The Goldman Sachs Group lifted their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a research note on Monday, July 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Performance

NASDAQ NFLX traded up $15.46 during trading on Wednesday, reaching $1,184.20. 2,908,020 shares of the company's stock were exchanged, compared to its average volume of 3,752,075. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The stock has a market capitalization of $503.20 billion, a P/E ratio of 50.46, a PEG ratio of 1.97 and a beta of 1.59. The business has a 50 day moving average price of $1,235.42 and a 200-day moving average price of $1,077.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

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 analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the business posted $4.88 EPS. The company's revenue was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director owned 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Reed Hastings sold 26,977 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at $446,421.70. This trade represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,408 shares of company stock worth $186,614,540 in 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.