PFG Private Wealth Management LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

PFG Private Wealth Management LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 955 shares of the Internet television network’s stock after selling 15 shares during the quarter. Netflix makes up about 0.5% of PFG Private Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. PFG Private Wealth Management LLC’s holdings in Netflix were worth $851,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC lifted its stake in shares of Netflix by 82.4% during 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 during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter worth $25,000. Newton One Investments LLC acquired a new stake in shares of Netflix during the 4th quarter worth $34,000. Pineridge Advisors LLC increased its holdings in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NFLX shares. Bank of America upped their price objective on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Pivotal Research upped 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. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Citigroup upped their price objective on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Needham & Company LLC increased their price target on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Performance

Shares of NFLX stock opened at $990.92 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The company’s 50-day simple moving average is $950.95 and its 200-day simple moving average is $838.65. The stock has a market capitalization of $423.87 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the company posted $2.11 earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix 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 value of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at $386,876.48. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 over the last quarter. Insiders own 1.76% of the company’s stock.

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.