Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by National Wealth Management Group LLC

National Wealth Management Group LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,428 shares of the Internet television network’s stock after purchasing an additional 158 shares during the quarter. Netflix comprises approximately 0.8% of National Wealth Management Group LLC’s portfolio, making the stock its 27th biggest position. National Wealth Management Group LLC’s holdings in Netflix were worth $1,273,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after acquiring an additional 171,712 shares during the period. State Street Corp raised its holdings in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the period. Norges Bank purchased a new stake in Netflix in the 4th quarter valued at approximately $5,019,087,000. Finally, Alliancebernstein L.P. increased its position in Netflix by 1.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock worth $4,582,568,000 after purchasing an additional 82,564 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now 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. In the last three months, insiders sold 288,583 shares of company stock worth $279,611,567. 1.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on NFLX shares. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their price target for the company from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a report on Thursday, January 23rd. Pivotal Research upped their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped their target price 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 investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Price Performance

NFLX opened at $932.53 on Tuesday. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a market cap of $398.90 billion, a P/E ratio of 47.03, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $973.23 and a two-hundred day moving average of $871.15.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 earnings per share. On average, analysts expect 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.