Wealth Enhancement Advisory Services LLC Takes $674,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Posted by Defense World Staff on Jul 13th, 2023

Wealth Enhancement Advisory Services LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,950 shares of the Internet television network’s stock, valued at approximately $674,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. grew its stake in Netflix by 26.5% during the first quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock worth $916,000 after purchasing an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Netflix by 21.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after purchasing an additional 84,179 shares during the period. Sequoia Financial Advisors LLC grew its stake in Netflix by 14.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after purchasing an additional 363 shares during the period. Candriam Luxembourg S.C.A. grew its stake in Netflix by 6.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after purchasing an additional 2,358 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in Netflix by 13.1% during the first quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after purchasing an additional 441 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NFLX shares. Morgan Stanley raised their target price on Netflix from $350.00 to $450.00 in a research note on Monday. Oppenheimer increased their price target on Netflix from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. Wedbush reiterated an “outperform” rating on shares of Netflix in a report on Thursday, April 13th. Citigroup increased their price target on Netflix from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, June 29th. Finally, TheStreet upgraded Netflix from a “c” rating to a “b-” rating in a report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $387.03.

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction on Monday, July 10th. The stock was sold at an average price of $438.52, for a total value of $219,260.00. Following the completion of the transaction, the director now directly owns 86 shares in the company, valued at $37,712.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Timothy M. Haley sold 1,022 shares of Netflix stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $450.19, for a total value of $460,094.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction on Monday, July 10th. The shares were sold at an average price of $438.52, for a total value of $219,260.00. Following the completion of the transaction, the director now owns 86 shares of the company’s stock, valued at $37,712.72. The disclosure for this sale can be found here. Insiders sold 87,636 shares of company stock valued at $33,599,416 over the last ninety days. 2.45% of the stock is currently owned by insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $444.05 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day simple moving average of $397.53 and a two-hundred day simple moving average of $352.82. Netflix, Inc. has a 1 year low of $169.70 and a 1 year high of $450.97. The company has a market capitalization of $197.40 billion, a P/E ratio of 47.75, a P/E/G ratio of 1.64 and a beta of 1.27.

Netflix (NASDAQ:NFLX – Get Free Report) last released its earnings results on Tuesday, April 18th. The Internet television network reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.05. Netflix had a return on equity of 20.43% and a net margin of 13.16%. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.18 billion. During the same period last year, the business posted $3.53 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 11.26 earnings per share for the current year.

Netflix Profile

(Free Report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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