Old North State Wealth Management LLC Invests $204,000 in Netflix, Inc. (NASDAQ:NFLX)

Old North State Wealth Management LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 229 shares of the Internet television network’s stock, valued at approximately $204,000.

Other large investors have also bought and sold shares of the company. Cassia Capital Partners LLC boosted its stake in shares of Netflix by 8.6% in the 4th quarter. Cassia Capital Partners LLC now owns 1,278 shares of the Internet television network’s stock valued at $1,139,000 after purchasing an additional 101 shares during the last quarter. Tanager Wealth Management LLP lifted its holdings in Netflix by 12.7% in the fourth quarter. Tanager Wealth Management LLP now owns 319 shares of the Internet television network’s stock valued at $284,000 after buying an additional 36 shares during the period. RFG Holdings Inc. boosted its position in Netflix by 7.5% during the fourth quarter. RFG Holdings Inc. now owns 1,184 shares of the Internet television network’s stock valued at $1,055,000 after acquiring an additional 83 shares during the last quarter. Mather Group LLC. grew its holdings in Netflix by 5.1% during the 4th quarter. Mather Group LLC. now owns 2,602 shares of the Internet television network’s stock worth $2,319,000 after acquiring an additional 127 shares during the period. Finally, Newton One Investments LLC bought a new position in shares of Netflix in the 4th quarter worth about $34,000. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NASDAQ NFLX opened at $994.87 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $425.57 billion, a PE ratio of 50.17, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,008.00. The firm’s 50-day simple moving average is $906.93 and its two-hundred day simple moving average is $781.90.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the company posted $2.11 EPS. Netflix’s revenue was up 16.0% compared to the same quarter last year. Research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In related news, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $800.19, for a total transaction of $517,722.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,026 shares of company stock worth $267,211,135. 1.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NFLX. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Macquarie increased their target price on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Evercore ISI lifted their price target on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Robert W. Baird upped their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

About Netflix

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.