IMG Wealth Management Inc. Buys 41 Shares of Netflix, Inc. $NFLX

IMG Wealth Management Inc. boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 14.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 322 shares of the Internet television network’s stock after purchasing an additional 41 shares during the period. IMG Wealth Management Inc.’s holdings in Netflix were worth $431,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after purchasing an additional 509,255 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Netflix by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Netflix by 1.0% in the first quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock worth $4,844,436,000 after purchasing an additional 53,611 shares in the last quarter. Invesco Ltd. increased its stake in shares of Netflix by 8.3% in the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock worth $4,350,083,000 after purchasing an additional 356,617 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Netflix by 3.5% in the first quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock worth $4,089,765,000 after purchasing an additional 148,675 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 3.3%

Shares of NFLX stock opened at $1,238.56 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 52-week low of $744.26 and a 52-week high of $1,341.15. The company has a market capitalization of $526.30 billion, a PE ratio of 52.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. The business’s fifty day moving average is $1,213.87 and its 200 day moving average is $1,182.08.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,290,418.40. The trade was a 41.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reed Hastings sold 42,176 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director directly owned 394 shares of the company’s stock, valued at approximately $461,736.48. This represents a 99.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent research reports. Loop Capital upgraded shares of Netflix from a “hold” rating to a “buy” rating and lifted their target price for the stock from $1,150.00 to $1,350.00 in a research note on Wednesday, September 17th. Needham & Company LLC reiterated a “buy” rating and issued a $1,500.00 target price on shares of Netflix in a research note on Wednesday, September 10th. Sanford C. Bernstein reiterated a “buy” rating on shares of Netflix in a research note on Friday. Wedbush reiterated an “outperform” rating on shares of Netflix in a research note on Wednesday, October 15th. Finally, Zacks Research lowered shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,339.81.

Netflix 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.