Biltmore Wealth Management LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Biltmore Wealth Management LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 760 shares of the Internet television network’s stock, valued at approximately $335,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arete Wealth Advisors LLC bought a new position in Netflix in the first quarter worth about $885,000. Old North State Trust LLC increased its position in Netflix by 25.7% in the first quarter. Old North State Trust LLC now owns 357 shares of the Internet television network’s stock worth $123,000 after buying an additional 73 shares during the period. US Bancorp DE increased its position in Netflix by 7.5% in the first quarter. US Bancorp DE now owns 113,184 shares of the Internet television network’s stock worth $39,103,000 after buying an additional 7,872 shares during the period. ETF Managers Group LLC lifted its stake in Netflix by 376.5% in the first quarter. ETF Managers Group LLC now owns 9,040 shares of the Internet television network’s stock valued at $3,123,000 after buying an additional 7,143 shares during the last quarter. Finally, Coastline Trust Co boosted its holdings in shares of Netflix by 479.4% during the first quarter. Coastline Trust Co now owns 5,510 shares of the Internet television network’s stock valued at $1,904,000 after acquiring an additional 4,559 shares during the period. Institutional investors and hedge funds own 79.95% of the company’s stock.

Netflix Stock Down 0.2 %

Shares of NASDAQ NFLX traded down $0.91 during mid-day trading on Monday, reaching $396.03. The company had a trading volume of 2,068,768 shares, compared to its average volume of 6,990,836. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $175.50 billion, a price-to-earnings ratio of 42.27, a PEG ratio of 1.33 and a beta of 1.29. The stock has a fifty day moving average of $430.91 and a two-hundred day moving average of $384.60. Netflix, Inc. has a 12-month low of $211.73 and a 12-month high of $485.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.44. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The company had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.29 billion. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.20 EPS. As a group, equities research analysts expect that Netflix, Inc. will post 11.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NFLX shares. Robert W. Baird raised shares of Netflix from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $340.00 to $500.00 in a research note on Monday, July 24th. UBS Group increased their price objective on Netflix from $390.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, July 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Netflix in a research note on Thursday, July 20th. Piper Sandler increased their price target on Netflix from $350.00 to $440.00 in a research note on Thursday, July 20th. Finally, Evercore ISI lowered their price target on Netflix from $550.00 to $500.00 and set an “outperform” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $431.44.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 500 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $443.07, for a total value of $221,535.00. Following the completion of the sale, the director now directly owns 152 shares in the company, valued at $67,346.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jay C. Hoag sold 4,954 shares of Netflix stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $422.24, for a total value of $2,091,776.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 500 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the sale, the director now owns 152 shares of the company’s stock, valued at $67,346.64. The disclosure for this sale can be found here. Insiders sold 125,377 shares of company stock valued at $54,547,674 over the last ninety days. Corporate insiders own 2.45% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.