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

by · The Markets Daily

Elite Wealth Management Inc. grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,014 shares of the Internet television network’s stock after buying an additional 115 shares during the quarter. Netflix accounts for 0.1% of Elite Wealth Management Inc.’s portfolio, making the stock its 21st largest position. Elite Wealth Management Inc.’s holdings in Netflix were worth $946,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Halbert Hargrove Global Advisors LLC grew its position in Netflix by 100.0% in 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 in the last quarter. Brown Shipley& Co Ltd purchased a new position in shares of Netflix in the fourth quarter valued at $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the fourth quarter valued at $32,000. Copia Wealth Management acquired a new stake in Netflix during the 4th quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. increased its stake 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 worth $41,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. Phillip Securities raised shares of Netflix from a “moderate sell” rating to a “hold” rating in a research report on Monday, April 21st. Guggenheim reissued a “buy” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. UBS Group raised their price objective on Netflix from $1,150.00 to $1,450.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Moffett Nathanson reaffirmed a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Cfra Research upgraded Netflix to a “strong-buy” rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,214.52.

View Our Latest Stock Analysis on Netflix

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reed Hastings sold 9,673 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the transaction, the director directly owned 394 shares of the company’s stock, valued at approximately $523,669.34. The trade was a 96.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company’s stock.

Netflix Stock Performance

NFLX stock opened at $1,245.11 on Monday. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The stock has a market capitalization of $529.88 billion, a price-to-earnings ratio of 58.84, a PEG ratio of 2.25 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s fifty day moving average is $1,221.70 and its two-hundred day moving average is $1,050.73.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm 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 firm posted $8.28 EPS. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company Profile

(Free Report)

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.

Further Reading

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