Core Wealth Partners LLC Invests $278,000 in Netflix, Inc. (NASDAQ:NFLX)

Core Wealth Partners LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 457 shares of the Internet television network’s stock, valued at approximately $278,000.

A number of other large investors have also modified their holdings of NFLX. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix during the third quarter worth $26,000. VitalStone Financial LLC grew its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Netflix during the fourth quarter worth $32,000. Finally, Indiana Trust & Investment Management CO grew its holdings in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX traded up $2.93 during mid-day trading on Thursday, reaching $682.51. 1,403,545 shares of the company’s stock were exchanged, compared to its average volume of 2,678,236. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $294.16 billion, a PE ratio of 47.36, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. The business’s fifty day simple moving average is $635.90 and its 200-day simple moving average is $588.63. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $689.88.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the firm posted $2.88 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NFLX shares. Benchmark upped their price objective on shares of Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a report on Friday, May 17th. Citigroup upped their price objective on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a report on Monday, March 25th. Rosenblatt Securities upped their price objective on shares of Netflix from $540.00 to $554.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Pivotal Research upped their target price on shares of Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $713.00 target price (up previously from $638.00) on shares of Netflix in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $637.34.

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.