Modern Wealth Management LLC Has $919,000 Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Modern Wealth Management LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,031 shares of the Internet television network’s stock after buying an additional 279 shares during the quarter. Modern Wealth Management LLC’s holdings in Netflix were worth $919,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Netflix by 22.7% during the 4th 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 last quarter. First National Trust Co raised 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 during the period. Haven Private LLC acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $733,000. Sigma Planning Corp boosted its stake in shares of Netflix by 7.4% during the 4th 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 during the period. Finally, M&T Bank Corp increased its holdings in shares of Netflix by 4.2% during the 3rd 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 last quarter. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NFLX has been the subject of several research reports. The Goldman Sachs Group raised their price target on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target on the stock in a report on Thursday, January 23rd. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Argus increased their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Performance

NASDAQ:NFLX opened at $970.65 on Thursday. The stock’s 50-day moving average is $967.54 and its 200-day moving average is $864.18. 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. The stock has a market cap of $415.20 billion, a P/E ratio of 48.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

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. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’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 firm posted $2.11 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,583 shares of company stock valued at $279,611,567 in the last three months. Insiders own 1.76% of the company’s stock.

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.