Merit Financial Group LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Merit Financial Group LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 39.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,217 shares of the Internet television network’s stock after acquiring an additional 3,174 shares during the period. Merit Financial Group LLC’s holdings in Netflix were worth $9,998,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Netflix during the 3rd quarter worth approximately $37,000. FSA Wealth Management LLC purchased a new position in Netflix in the third quarter valued at approximately $38,000. Finally, First Personal Financial Services acquired a new position in Netflix during the third quarter valued at approximately $40,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NFLX. Macquarie increased their price objective on shares of Netflix from $795.00 to $965.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Argus boosted their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Sanford C. Bernstein increased their target price on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company boosted their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus target price of $845.06.

Netflix Stock Up 1.9 %

Shares of NASDAQ:NFLX opened at $858.10 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 1-year low of $476.06 and a 1-year high of $941.75. The company’s fifty day moving average is $883.32 and its two-hundred day moving average is $757.20. The stock has a market capitalization of $366.80 billion, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

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.