WealthPlan Investment Management LLC Increases Investment in Netflix, Inc.

WealthPlan Investment Management LLC has significantly expanded its investment in Netflix, Inc. (NASDAQ:NFLX) by 98.5% during the third quarter. The investment firm now holds 897 shares in the leading Internet television network, which represent an increase of 445 shares from their previous count. With these additional shares, WealthPlan Investment Management's stake in Netflix is valued at around $339,000 based on recent SEC filings.

Growth Among Institutional Investors

Several other institutional investors have also made changes to their positions in Netflix. In a substantial move, Norges Bank began a new position in Netflix worth approximately $1,501,762,000 during the fourth quarter. Similarly, Moneta Group Investment Advisors LLC drastically increased their share count by 117,939.1%, now holding stock valued at over $808 million. During the second quarter, Portside Wealth Group LLC initiated a new stake valued at nearly $575 million, and Alliancebernstein L.P. more than doubled their holdings, raising their stake's worth to about $789 million. BlackRock Inc., a major player, raised its stake by 4.3%, reaffirming its confidence in Netflix with a total share value exceeding $13 billion. These large investments signify that 79.95% of Netflix stock is currently owned by institutional investors.

Netflix's Stock Performance

On a recent trading day, Netflix stock opened at $561.32. When looking at averages, the company's 50-day simple moving average stands at $500.31 while the 200-day average is noted at $447.87. The streaming giant has experienced a remarkable range over fifty-two weeks, with a low of $285.33 and a peak value of $579.64. Netflix's overall market capitalization rests at $242.92 billion, supported by a P/E ratio of 46.74 and a price-to-earnings-growth ratio of 1.53. The firm's debt-to-equity ratio hovers around 0.69, with both current and quick ratios at 1.12.

At the last earnings report, Netflix disclosed an earnings per share (EPS) of $2.11, falling slightly below the expected $2.20. With revenues hitting $8.83 billion, the company managed to surpass the anticipated $8.72 billion mark. Netflix has shown a commendable net margin of 16.04% and a return on equity of 24.76%. Analysts predict that for the current fiscal year, Netflix could achieve an EPS of 16.93.

Analysis and Ratings

Analysts have varying viewpoints on Netflix's stock outlook. For instance, Deutsche Bank Aktiengesellschaft downgraded the stock from a 'buy' to a 'hold' but increased their price target from $460.00 to $525.00. In more positive forecasts, Evercore ISI, Bank of America, and TD Cowen all adjusted their price targets upwards, granting Netflix 'outperform' ratings, which indicates expectations for the stock to perform better than the market average. Overall, the consensus among analysts is a 'Moderate Buy' with an averaged price target of $553.33.

Insider Trading Activity

In related developments, Netflix CEO Gregory K. Peters sold 7,230 shares at an average price of $500. Over subsequent transactions, he sold additional shares at higher prices, all of which were duly disclosed in accordance with SEC regulations. After these sales, Peters continues to directly own 13,090 shares in the company. This insider selling is part of regular activities reported over the last three months with insiders selling almost 200,000 shares valued around $105 million. Corporate insiders own approximately 2.45% of Netflix's total stock.

About Netflix, Inc.

Netflix, Inc. is a global entertainment services provider, offering its subscribers a wide array of TV series, documentaries, feature films, and games in different genres and languages. The platform allows streaming on various internet-connected devices, assuring accessibility for a broad user base.

investing, Netflix, stocks