Summit Securities Group LLC Takes $61,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Summit Securities Group LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 68 shares of the Internet television network’s stock, valued at approximately $61,000.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co lifted its stake in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after buying an additional 12 shares in the last quarter. Haven Private LLC acquired a new position in shares of Netflix in the fourth quarter valued at approximately $733,000. Sigma Planning Corp increased its position in shares of Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after acquiring an additional 386 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NFLX. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Pivotal Research increased their price objective on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and issued a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Argus lifted their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,021.02.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders sold 288,583 shares of company stock valued at $279,611,567 in the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $933.85 on Monday. The business’s 50 day moving average is $971.74 and its 200-day moving average is $869.42. The firm has a market cap of $399.46 billion, a P/E ratio of 47.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

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.