Institute for Wealth Management LLC. Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Institute for Wealth Management LLC. boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 16.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,922 shares of the Internet television network’s stock after purchasing an additional 553 shares during the period. Institute for Wealth Management LLC.’s holdings in Netflix were worth $1,785,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NFLX. AlphaCore Capital LLC purchased a new position in shares of Netflix during the 1st quarter valued at about $29,000. Engrave Wealth Partners LLC lifted its position in shares of Netflix by 65.0% during the 2nd quarter. Engrave Wealth Partners LLC now owns 66 shares of the Internet television network’s stock valued at $30,000 after buying an additional 26 shares in the last quarter. Motco lifted its position in shares of Netflix by 57.1% during the 2nd quarter. Motco now owns 66 shares of the Internet television network’s stock valued at $30,000 after buying an additional 24 shares in the last quarter. Lucia Wealth Services LLC lifted its position in shares of Netflix by 325.0% during the 1st quarter. Lucia Wealth Services LLC now owns 85 shares of the Internet television network’s stock valued at $32,000 after buying an additional 65 shares in the last quarter. Finally, Kistler Tiffany Companies LLC lifted its position in shares of Netflix by 688.9% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 71 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. 82.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:NFLX traded up $3.08 during midday trading on Friday, hitting $488.88. The company had a trading volume of 5,924,310 shares, compared to its average volume of 10,512,042. Netflix, Inc. has a twelve month low of $252.28 and a twelve month high of $575.37. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $214.25 billion, a price-to-earnings ratio of 82.44, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The business’s 50-day simple moving average is $476.08 and its 200-day simple moving average is $407.12.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $1.59 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.22). Netflix had a net margin of 11.85% and a return on equity of 33.32%. The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.08 billion. During the same period in the prior year, the business posted $0.60 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 6.28 EPS for the current year.

A number of research analysts have recently weighed in on NFLX shares. Wells Fargo & Co reaffirmed a “hold” rating and set a $470.00 price objective (up from $460.00) on shares of Netflix in a research report on Friday, July 17th. BMO Capital Markets boosted their price target on Netflix from $500.00 to $625.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Citigroup boosted their price target on Netflix from $350.00 to $450.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Nomura lifted their price objective on Netflix from $330.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Morgan Stanley increased their price objective on Netflix from $485.00 to $575.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $483.56.

In other Netflix news, insider Gregory K. Peters sold 5,366 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $450.00, for a total transaction of $2,414,700.00. Following the completion of the sale, the insider now owns 18,456 shares of the company’s stock, valued at $8,305,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Reed Hastings sold 53,193 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $449.23, for a total value of $23,895,891.39. Following the sale, the chief executive officer now directly owns 53,193 shares of the company’s stock, valued at approximately $23,895,891.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,612 shares of company stock valued at $90,145,458. Insiders own 3.40% of the company’s stock.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

Read More: Index Funds

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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