IHT Wealth Management LLC Acquires 470 Shares of Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

IHT Wealth Management LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 8.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,783 shares of the Internet television network’s stock after purchasing an additional 470 shares during the period. IHT Wealth Management LLC’s holdings in Netflix were worth $4,110,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. DigitalBridge Group Inc. increased its stake in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after buying an additional 29,726 shares during the period. Natixis Advisors LLC increased its position in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Netflix during the 3rd quarter worth $1,517,000. Finally, Westfield Capital Management Co. LP bought a new position in Netflix during the third quarter worth about $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFLX has been the subject of several recent analyst reports. KeyCorp increased their price target on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Pivotal Research increased their target price on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. TD Cowen lifted their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $775.58.

Read Our Latest Stock Report on Netflix

Insiders Place Their Bets

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. This represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock worth $159,682,799 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NFLX opened at $902.17 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business has a fifty day simple moving average of $780.46 and a 200 day simple moving average of $704.75. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00. The company has a market capitalization of $385.64 billion, a PE ratio of 51.06, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27.

Netflix (NASDAQ:NFLX – Get Free Report) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Research analysts expect that Netflix, Inc. will post 19.78 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.

See Also

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