Momentous Wealth Management Inc. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Momentous Wealth Management Inc. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 275 shares of the Internet television network’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC grew 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 last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Netflix in the 3rd quarter valued at approximately $25,000. Newton One Investments LLC acquired a new stake in Netflix during the 4th quarter valued at $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 buying an additional 40 shares in the last quarter. 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 buying an additional 16 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent research reports. Evercore ISI upped their price objective on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Bank of America lifted their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group lifted their target price on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their target price for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,016.78.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 over the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.2 %

Shares of NASDAQ:NFLX opened at $971.99 on Tuesday. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company’s fifty day moving average is $961.71 and its two-hundred day moving average is $861.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $415.78 billion, a price-to-earnings ratio of 49.02, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued its 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. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company 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.