Global Wealth Management Investment Advisory Inc. Purchases 10,651 Shares of Netflix, Inc. $NFLX

Global Wealth Management Investment Advisory Inc. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 23.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 56,389 shares of the Internet television network’s stock after buying an additional 10,651 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Netflix were worth $3,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Netflix during the second quarter valued at about $24,902,221,000. Bank of New York Mellon Corp acquired a new stake in shares of Netflix in the second quarter valued at about $1,906,482,000. Legal & General Group Plc acquired a new stake in shares of Netflix in the second quarter valued at about $1,886,526,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Netflix in the second quarter valued at about $1,481,303,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Netflix by 194.9% in the third quarter. Assenagon Asset Management S.A. now owns 16,111,438 shares of the Internet television network’s stock worth $1,121,034,000 after purchasing an additional 10,647,803 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. TD Cowen reissued a “buy” rating and set a $100.00 price objective on shares of Netflix in a research report on Wednesday, October 21st. Piper Sandler restated an “overweight” rating and set a $78.00 target price (down from $85.00) on shares of Netflix in a research note on Wednesday, October 21st. Wells Fargo & Company lowered Netflix from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $80.00 to $57.00 in a report on Friday, September 18th. Robert W. Baird set a $90.00 price target on Netflix and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Finally, President Capital dropped their price target on Netflix from $134.00 to $83.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $89.14.

Insider Activity

In other Netflix news, Director Bradford Smith sold 17,980 shares of Netflix stock in a transaction on Monday, October 26th. The shares were sold at an average price of $64.03, for a total transaction of $1,151,259.40. Following the sale, the director owned 79,690 shares in the company, valued at $5,102,550.70. The trade was a 18.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Neumann sold 9,253 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.15, for a total transaction of $612,085.95. Following the completion of the sale, the chief financial officer directly owned 73,787 shares in the company, valued at $4,881,010.05. This trade represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 61,712 shares of company stock valued at $4,051,144. 1.24% of the stock is owned by insiders.

Netflix Price Performance

Shares of NFLX stock opened at $63.95 on Tuesday. Netflix, Inc. has a 12 month low of $61.39 and a 12 month high of $116.73. The company has a market capitalization of $262.60 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.97 and a beta of 1.62. The stock has a 50 day moving average of $70.68 and a two-hundred day moving average of $80.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The business had revenue of $12.87 billion for the quarter, compared to analysts’ expectations of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. Netflix’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. As a group, equities analysts expect that Netflix, Inc. will post 3.59 EPS for the current year.

Netflix Company Profile

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.