Wealthcare Capital Management LLC Acquires New Stake in Netflix, Inc. (NASDAQ:NFLX)

Wealthcare Capital Management LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 292 shares of the Internet television network’s stock, valued at approximately $272,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital & Planning LLC purchased a new position in Netflix during the 4th quarter valued at about $809,000. Brighton Jones LLC raised its position in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after acquiring an additional 257 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Netflix during the 4th quarter worth about $12,212,000. Revolve Wealth Partners LLC raised its position in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after acquiring an additional 144 shares in the last quarter. Finally, Stiles Financial Services Inc raised its position in shares of Netflix by 46.4% during the 4th quarter. Stiles Financial Services Inc now owns 868 shares of the Internet television network’s stock worth $774,000 after acquiring an additional 275 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other Netflix news, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now directly owns 79,040 shares of the company’s stock, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,140 shares of company stock worth $210,271,552 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group boosted their price objective on Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a research note on Friday, May 16th. KeyCorp boosted their price objective on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Barclays boosted their target price on Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. BMO Capital Markets reissued an “outperform” rating and issued a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Finally, Wolfe Research set a $1,340.00 target price on Netflix and gave the company an “outperform” rating in a report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,149.91.

Netflix Price Performance

NFLX opened at $1,224.46 on Tuesday. The stock has a market cap of $521.09 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average price of $1,093.58 and a 200 day moving average price of $991.46.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the business posted $8.28 earnings per share. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix Company 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.