Elite Wealth Management Inc. Purchases 421 Shares of Netflix, Inc. (NFLX)
Elite Wealth Management Inc. boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,095 shares of the Internet television network’s stock after acquiring an additional 421 shares during the period. Netflix accounts for 1.2% of Elite Wealth Management Inc.’s portfolio, making the stock its 20th largest position. Elite Wealth Management Inc.’s holdings in Netflix were worth $1,505,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. State of Tennessee Treasury Department boosted its holdings in Netflix by 6.5% in the first quarter. State of Tennessee Treasury Department now owns 279,501 shares of the Internet television network’s stock valued at $82,550,000 after acquiring an additional 17,141 shares during the last quarter. Fiera Capital Corp bought a new position in Netflix in the first quarter valued at about $498,000. Mcdaniel Terry & Co. bought a new position in Netflix in the first quarter valued at about $219,000. Budros Ruhlin & Roe Inc. bought a new position in Netflix in the first quarter valued at about $307,000. Finally, Weik Capital Management bought a new position in Netflix in the first quarter valued at about $399,000. Institutional investors and hedge funds own 77.20% of the company’s stock.
Netflix opened at $351.60 on Friday, MarketBeat reports. The company has a market cap of $152.03 billion, a price-to-earnings ratio of 281.28, a P/E/G ratio of 4.55 and a beta of 0.97. Netflix, Inc. has a twelve month low of $144.25 and a twelve month high of $356.10. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.63.
In other news, Director Leslie J. Kilgore sold 560 shares of Netflix stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $334.05, for a total transaction of $187,068.00. Following the completion of the transaction, the director now directly owns 35,756 shares in the company, valued at approximately $11,944,291.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $352.31, for a total value of $246,617.00. Following the transaction, the director now owns 7,393 shares of the company’s stock, valued at $2,604,627.83. The disclosure for this sale can be found here. Insiders have sold a total of 274,665 shares of company stock worth $89,148,200 in the last ninety days. Insiders own 4.29% of the company’s stock.
A number of equities analysts have issued reports on the company. Deutsche Bank upgraded Netflix from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Friday, April 13th. Piper Jaffray Companies raised their target price on Netflix to $360.00 and gave the stock an “overweight” rating in a report on Friday, March 9th. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $260.52 target price on the stock in a report on Monday, February 12th. Zacks Investment Research cut Netflix from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. Finally, UBS Group raised their target price on Netflix from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, March 5th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Netflix presently has a consensus rating of “Buy” and an average target price of $297.58.
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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