Potentia Wealth Acquires New Stake in Netflix, Inc. (NASDAQ:NFLX)

Potentia Wealth purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 429 shares of the Internet television network’s stock, valued at approximately $382,000.

Several other hedge funds also recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the third quarter worth about $25,000. Pathway Financial Advisers LLC raised its holdings in shares of Netflix by 82.4% in the 4th 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 in the last quarter. Newton One Investments LLC acquired a new stake in Netflix during the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC boosted its holdings 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, FSA Wealth Management LLC bought a new position in shares of Netflix in the third quarter valued at $38,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. 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 the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock valued at $279,142,041 over the last ninety days. 1.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Moffett Nathanson upgraded shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the company from $850.00 to $1,100.00 in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $1,016.78.

Netflix Price Performance

Shares of Netflix stock opened at $971.99 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $415.78 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The firm has a fifty day moving average price of $961.71 and a two-hundred day moving average price of $861.09. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the firm posted $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Analysts expect 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.