King Luther Capital Management Corp Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

King Luther Capital Management Corp lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 60.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,099 shares of the Internet television network’s stock after acquiring an additional 3,817 shares during the period. King Luther Capital Management Corp’s holdings in Netflix were worth $4,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Journey Strategic Wealth LLC boosted its holdings in shares of Netflix by 131.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 1,680 shares of the Internet television network’s stock valued at $818,000 after acquiring an additional 954 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Netflix in the fourth quarter valued at about $2,053,000. Assetmark Inc. lifted its stake in shares of Netflix by 104.6% in the fourth quarter. Assetmark Inc. now owns 14,124 shares of the Internet television network’s stock valued at $6,877,000 after purchasing an additional 7,220 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of Netflix by 11.7% in the fourth quarter. CreativeOne Wealth LLC now owns 1,399 shares of the Internet television network’s stock valued at $681,000 after purchasing an additional 147 shares during the period. Finally, GW&K Investment Management LLC lifted its stake in shares of Netflix by 16.6% in the fourth quarter. GW&K Investment Management LLC now owns 183 shares of the Internet television network’s stock valued at $89,000 after purchasing an additional 26 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Down 0.4 %

Shares of Netflix stock traded down $2.87 during trading hours on Thursday, hitting $637.60. The company’s stock had a trading volume of 479,822 shares, compared to its average volume of 4,234,317. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $650.88. The business has a fifty day moving average of $606.33 and a 200 day moving average of $546.83. The company has a market capitalization of $274.81 billion, a PE ratio of 44.45, a P/E/G ratio of 1.41 and a beta of 1.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 earnings per share. As a group, equities analysts forecast that Netflix, Inc. will post 18.31 EPS for the current year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, insider David A. Hyman sold 268 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now owns 28 shares in the company, valued at $15,443.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,039 shares of company stock worth $46,401,083. 1.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on NFLX shares. Morgan Stanley raised their price objective on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of Netflix in a research report on Friday, May 17th. Rosenblatt Securities lifted their target price on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Redburn Atlantic lifted their target price on shares of Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $630.53.

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.