WT Asset Management Ltd Purchases Shares of 61,800 Netflix, Inc. (NASDAQ:NFLX)

WT Asset Management Ltd purchased a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,800 shares of the Internet television network's stock, valued at approximately $57,630,000. Netflix accounts for 6.7% of WT Asset Management Ltd's investment portfolio, making the stock its 6th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC raised its holdings in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new stake in Netflix during the 4th quarter valued at approximately $27,000. Transce3nd LLC purchased a new position in Netflix in the 4th quarter worth approximately $32,000. Copia Wealth Management purchased a new position in Netflix in the 4th quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Reed Hastings sold 9,673 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Strive Masiyiwa sold 290 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Insiders sold 186,723 shares of company stock valued at $223,307,201 over the last quarter. 1.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

NFLX has been the subject of a number of research reports. Barclays upped their target price on shares of Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. Wedbush reaffirmed an "outperform" rating and issued a $1,200.00 target price on shares of Netflix in a report on Monday, May 5th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Oppenheimer raised their price target on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Finally, Robert W. Baird upped their price objective on Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,182.58.

Netflix Trading Down 0.7%

Shares of NASDAQ:NFLX traded down $8.74 during trading on Wednesday, reaching $1,284.86. 3,045,565 shares of the company were exchanged, compared to its average volume of 3,759,248. The business's fifty day simple moving average is $1,195.33 and its 200-day simple moving average is $1,029.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The firm has a market capitalization of $546.80 billion, a PE ratio of 60.72, a P/E/G ratio of 2.50 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the business posted $8.28 EPS. On average, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

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.