Flynn Zito Capital Management LLC Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Flynn Zito Capital Management LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 123.7% in the 4th quarter, Holdings Channel reports. The firm owned 917 shares of the Internet television network’s stock after buying an additional 507 shares during the quarter. Flynn Zito Capital Management LLC’s holdings in Netflix were worth $817,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC grew its stake 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 buying an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the third quarter valued at approximately $25,000. Newton One Investments LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC raised its stake in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC lifted its position in shares of 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 purchasing an additional 16 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NFLX shares. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a report on Thursday, January 23rd. Morgan Stanley raised their target price on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Wedbush restated an “outperform” rating and set a $1,150.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $990.06 on Thursday. The firm’s 50-day simple moving average is $945.07 and its 200 day simple moving average is $827.46. The stock has a market cap of $423.51 billion, a P/E ratio of 49.93, a P/E/G ratio of 2.12 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. 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 issued its quarterly 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 company had revenue of $10.25 billion during 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 business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.11 EPS. Equities analysts expect that Netflix, Inc. will post 24.58 EPS 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.