HB Wealth Management LLC Increases Its Investment in Netflix, Inc. (NASDAQ:NFLX)

HB Wealth Management LLC recently increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.2% during the 4th quarter. This information comes from their latest filing with the Securities and Exchange Commission. Following this investment, the fund now holds a total of 13,681 shares of the popular Internet television network's stock, having bought an additional 419 shares within the quarter. As per their latest filing, HB Wealth Management LLC's holdings in Netflix are valued at $12,195,000.

Investment Trends Among Hedge Funds

Many other hedge funds have also made changes to their positions in Netflix. For instance, RPg Family Wealth Advisory LLC established a new stake in Netflix during the 3rd quarter, investing around $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake by 700% in the same period, now owning 48 shares valued at approximately $34,000 after acquiring an additional 42 shares. MidAtlantic Capital Management Inc. made a new investment in the 3rd quarter worth approximately $37,000, while FSA Wealth Management LLC invested about $38,000 in this period. Additionally, First Personal Financial Services also acquired a new stake valued at $40,000. Currently, institutional investors and hedge funds own 80.93% of Netflix's stock.

Current Performance of Netflix Shares

On Friday, shares of NASDAQ NFLX experienced a price increase of $15.73, reaching $858.10. This trading session saw 3,563,913 shares exchanged, surpassing the average volume of 2,297,633 shares. Netflix has a market capitalization of $366.80 billion, with a P/E ratio of 48.56, a PEG ratio of 1.35, and a beta of 1.27. The company's debt-to-equity ratio stands at 0.62, with both the quick and current ratios at 1.13. The stock has fluctuated between a twelve-month low of $476.06 and a twelve-month high of $941.75. Currently, its fifty-day simple moving average is $883.32, and its two-hundred day simple moving average is $757.20.

Recent Earnings Report

Netflix (NASDAQ:NFLX) recently reported its earnings on Thursday, October 17th, disclosing an EPS of $5.40 for the quarter, surpassing the consensus estimate of $5.09 by $0.31. The company's net margin was recorded at 20.70%, and it achieved a return on equity of 35.86%. The company generated revenue amounting to $9.82 billion for the quarter, slightly above analysts' estimates of $9.77 billion. Analysts anticipate that Netflix, Inc. will report an EPS of 19.78 for the current fiscal year.

Analyst Ratings Insights

Several equity analysts have shared their insights regarding NFLX shares recently. Guggenheim raised its target price for Netflix from $825.00 to $950.00, assigning a "buy" rating in a research note on January 13th. Pivotal Research also increased their price target from $925.00 to $1,100.00 while maintaining a "buy" rating. BMO Capital Markets set their target price at $1,000.00, suggesting an "outperform" rating. Furthermore, The Goldman Sachs Group lifted their target price from $750.00 to $850.00, giving a "neutral" rating, while TD Cowen raised it from $820.00 to $835.00 with a "buy" rating. So far, two analysts have rated the stock with a sell recommendation, nine have assigned a hold rating, twenty-four have issued a buy rating, and one has given it a strong buy rating. According to MarketBeat.com, the average rating for the company stands at "Moderate Buy," with a consensus target price of $845.06.

Insider Transactions

In related news, Director Richard N. Barton recently sold 6,364 shares of Netflix’s stock on January 7th at an average price of $879.38, totaling approximately $5.6 million. Following this sale, he now holds 246 shares valued at around $216,327.48, marking a significant decline in his position. Additionally, Director Timothy M. Haley sold 11,090 shares on November 5th, which amounted to about $8.4 million. Over the past 90 days, insiders have sold a total of 152,198 shares worth $127.6 million, with insiders currently owning 1.76% of Netflix's stock.

About Netflix, Inc.

Netflix, Inc. provides entertainment services, featuring a broad array of TV series, documentaries, feature films, and games across multiple genres and languages. Members can access streaming content through various internet-enabled devices such as TVs, digital media players, set-top boxes, and smartphones.

Conclusion

The recent growth in HB Wealth Management LLC's investment and adjustments by other hedge funds indicate a rising interest in Netflix. The company's strong performance, robust earnings, and favorable analyst ratings reinforce its position as a key player in the entertainment sector.

Netflix, Investment, Stocks