Sherman Asset Management Inc. Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Sherman Asset Management Inc. acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 249 shares of the Internet television network’s stock, valued at approximately $222,000.

Other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter valued at about $25,000. Newton One Investments LLC bought a new position in Netflix during the fourth quarter worth about $34,000. Pineridge Advisors LLC increased its position in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC increased its position in Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after acquiring an additional 16 shares during the period. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NFLX shares. Oppenheimer raised their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Citigroup raised their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Needham & Company LLC raised their price target on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Macquarie raised their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Stock Up 1.8 %

Shares of NASDAQ NFLX opened at $980.56 on Friday. The company has a 50 day simple moving average of $947.72 and a 200 day simple moving average of $832.09. The firm has a market cap of $419.44 billion, a PE ratio of 49.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (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 business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business earned $2.11 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 303,380 shares of company stock worth $290,016,164. 1.76% of the stock is currently owned by insiders.

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.