IHT Wealth Management LLC Buys 1,814 Shares of Netflix, Inc. (NASDAQ:NFLX)

IHT Wealth Management LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 76.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,175 shares of the Internet television network’s stock after buying an additional 1,814 shares during the period. IHT Wealth Management LLC’s holdings in Netflix were worth $983,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NFLX. Polen Capital Management LLC lifted its stake in shares of Netflix by 53.9% in the third quarter. Polen Capital Management LLC now owns 7,332,431 shares of the Internet television network’s stock valued at $1,726,348,000 after buying an additional 2,569,072 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Netflix by 21.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,405,142 shares of the Internet television network’s stock valued at $2,690,289,000 after buying an additional 1,991,099 shares during the period. Jennison Associates LLC lifted its stake in Netflix by 77.7% during the third quarter. Jennison Associates LLC now owns 2,601,128 shares of the Internet television network’s stock worth $612,410,000 after purchasing an additional 1,137,471 shares during the period. Edgewood Management LLC lifted its stake in Netflix by 19.3% during the third quarter. Edgewood Management LLC now owns 6,057,299 shares of the Internet television network’s stock worth $1,426,130,000 after purchasing an additional 977,900 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Netflix during the third quarter worth about $187,599,000. Institutional investors own 77.26% of the company’s stock.

Netflix Trading Down 2.1 %

NFLX opened at $303.50 on Friday. The firm’s fifty day simple moving average is $334.97 and its 200 day simple moving average is $292.19. Netflix, Inc. has a 12 month low of $162.71 and a 12 month high of $396.50. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $135.16 billion, a P/E ratio of 30.50, a P/E/G ratio of 1.37 and a beta of 1.26.

Netflix (NASDAQ:NFLX – Get Rating) last released its quarterly earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.35). The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.85 billion. Netflix had a net margin of 14.21% and a return on equity of 23.06%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 11.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial raised their price target on shares of Netflix from $210.00 to $339.00 and gave the stock a “hold” rating in a research note on Tuesday, January 17th. Morgan Stanley raised their price target on shares of Netflix from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 19th. Jefferies Financial Group raised their price target on shares of Netflix from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, February 6th. UBS Group raised their price target on shares of Netflix from $250.00 to $350.00 in a research note on Tuesday, January 17th. Finally, Phillip Securities cut shares of Netflix from a “buy” rating to an “accumulate” rating in a research note on Thursday, January 26th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Hold” and a consensus target price of $343.13.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 3,698 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $352.94, for a total value of $1,305,172.12. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.39% of the stock is currently owned by insiders.

Netflix Company Profile

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Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.