King Luther Capital Management Corp Acquires 3,817 Shares of Netflix, Inc. (NASDAQ:NFLX)

King Luther Capital Management Corp raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 60.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,099 shares of the Internet television network’s stock after purchasing an additional 3,817 shares during the period. King Luther Capital Management Corp’s holdings in Netflix were worth $4,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Authentikos Wealth Advisory LLC purchased a new position in shares of Netflix during the 3rd quarter worth approximately $25,000. Spartan Planning & Wealth Management purchased a new position in shares of Netflix during the 3rd quarter worth approximately $26,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of Netflix by 89.7% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after acquiring an additional 35 shares during the period. Pacifica Partners Inc. purchased a new position in shares of Netflix during the 4th quarter worth approximately $41,000. Finally, Bear Mountain Capital Inc. purchased a new position in shares of Netflix during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NFLX shares. Canaccord Genuity Group reiterated a “hold” rating and set a $585.00 target price (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. Oppenheimer restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. KeyCorp upped their price target on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Pivotal Research upped their price target on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Loop Capital upped their price target on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $630.53.

Insider Activity

In other news, CEO Gregory K. Peters sold 5,821 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $3,492,600.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $7,854,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Gregory K. Peters sold 5,821 shares of Netflix stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $3,492,600.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $7,854,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders sold a total of 78,039 shares of company stock worth $46,401,083 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX stock traded down $2.87 during trading on Thursday, reaching $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 company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $274.81 billion, a P/E ratio of 44.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The company’s fifty day moving average is $606.33 and its 200-day moving average is $546.83.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the prior year, the business posted $2.88 EPS. Netflix’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts expect that Netflix, Inc. will post 18.31 earnings per share 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.