Accurate Wealth Management LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Accurate Wealth Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,548 shares of the Internet television network’s stock after purchasing an additional 238 shares during the period. Accurate Wealth Management LLC’s holdings in Netflix were worth $1,298,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NFLX. Brown Brothers Harriman & Co. raised its holdings in shares of Netflix by 11.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,142 shares of the Internet television network’s stock valued at $2,795,000 after purchasing an additional 431 shares in the last quarter. One Capital Management LLC increased its holdings in Netflix by 11.6% in the second quarter. One Capital Management LLC now owns 2,703 shares of the Internet television network’s stock valued at $1,824,000 after buying an additional 280 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in Netflix by 100.5% in the second quarter. Citizens Financial Group Inc. RI now owns 5,758 shares of the Internet television network’s stock valued at $3,886,000 after buying an additional 2,886 shares in the last quarter. WealthPLAN Partners LLC lifted its holdings in Netflix by 7.6% during the 2nd quarter. WealthPLAN Partners LLC now owns 943 shares of the Internet television network’s stock worth $636,000 after buying an additional 67 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. acquired a new position in shares of Netflix during the 2nd quarter worth about $222,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent analyst reports. Argus boosted their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Needham & Company LLC increased their target price on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Piper Sandler boosted their price target on shares of Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley raised their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $841.27.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,742 shares of company stock worth $131,030,268 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $828.40 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $881.04 and a 200-day simple moving average of $755.96. The company has a market cap of $354.11 billion, a price-to-earnings ratio of 46.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. Netflix, Inc. has a 12-month low of $475.26 and a 12-month high of $941.75.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

About Netflix

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.