Wellington Shields Capital Management LLC invested $182,000 in Netflix, Inc. (NASDAQ:NFLX)

VaselineSeptember 7, 2024

0 4 minutes read

Wellington Shields Capital Management LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) in the second quarter, according to the company in its most recent SEC disclosure. The fund purchased 270 shares of the Internet television network’s stock, valued at approximately $182,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Denver PWM LLC purchased a new position in Netflix in the second quarter valued at $25,000. Valued Wealth Advisors LLC raised its stake in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. Proffitt & Goodson Inc. grew its position in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the period. AlphaMark Advisors LLC increased its stake in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO boosted its holdings in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s shares.

Changes in Analyst Ratings

Several research analysts have recently commented on NFLX shares. TD Cowen upped their target price on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Macquarie restated an “outperform” rating and set a $685.00 price objective on shares of Netflix in a research note on Tuesday, July 16th. Rosenblatt Securities boosted their price target on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Benchmark boosted their target price on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. Finally, China Renaissance assumed coverage on Netflix in a research note on Thursday. They issued a “hold” rating and a $680.00 price target for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $685.29, based on data from MarketBeat.

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Insider buying and selling at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,831 shares of company stock valued at $102,721,884. 1.76% of shares are currently owned by company insiders.

Netflix price performance

Shares of NASDAQ:NFLX opened at $665.77 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95, and a current ratio of 0.95. Netflix, Inc. it has a 52-week low of $344.73 and a 52-week high of $711.33. The firm has a market cap of $286.95 billion, a PE ratio of 46.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. The company’s fifty-day moving average is $659.89, and its 200-day moving average is $633.82.

Netflix (NASDAQ:NFLX – Get Your Free Report ) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.29 EPS. Sell-side analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Netflix Company Profile

(Free report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films and games in different genres and languages. The company also offers members the ability to stream content through a range of internet-connected devices, including televisions, digital video players, TV set-top boxes and mobile devices.