Palisades Hudson Asset Management L.P. Takes $208,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Palisades Hudson Asset Management L.P. bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 233 shares of the Internet television network’s stock, valued at approximately $208,000.

Other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the third quarter worth about $25,000. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Newton One Investments LLC acquired a new stake in Netflix during the fourth quarter worth about $34,000. MidAtlantic Capital Management Inc. acquired a new stake in Netflix during the third quarter worth about $37,000. Finally, 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 purchasing an additional 40 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $12,700,583. The trade was a 88.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Down 2.7 %

Shares of NASDAQ:NFLX opened at $866.68 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The firm’s 50 day moving average price is $949.59 and its 200 day moving average price is $843.79. The stock has a market cap of $370.73 billion, a price-to-earnings ratio of 43.71, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping 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 quarter last year, the company earned $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Guggenheim raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. UBS Group reaffirmed a “buy” rating on shares of Netflix in a research note on Monday. Finally, KeyCorp increased their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Ten investment 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,014.26.

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.