Horizon Wealth Management LLC Purchases 58 Shares of Netflix, Inc. (NASDAQ:NFLX)

Horizon Wealth Management LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 10.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 616 shares of the Internet television network’s stock after acquiring an additional 58 shares during the quarter. Horizon Wealth Management LLC’s holdings in Netflix were worth $574,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in Netflix in the 4th quarter valued at about $32,000. Pineridge Advisors LLC increased its position in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares in the last quarter. Finally, Copia Wealth Management bought a new stake in Netflix in the 4th quarter valued at about $37,000. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on NFLX shares. Oppenheimer reaffirmed an “outperform” rating and issued a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Macquarie boosted their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Citigroup reissued a “neutral” rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Finally, FBN Securities began coverage on Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,149.91.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cletus R. Willems sold 298 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $35,972,180. This represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,390 shares of company stock worth $170,509,439. Insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,241.47 on Friday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,262.81. The stock’s 50 day moving average price is $1,087.80 and its 200-day moving average price is $987.81. The company has a market capitalization of $528.33 billion, a PE ratio of 62.61, a PEG ratio of 2.12 and a beta of 1.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the business earned $8.28 earnings per share. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 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.