NewEdge Wealth LLC Acquires 593 Shares of Netflix, Inc. (NASDAQ:NFLX)

NewEdge Wealth LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,438 shares of the Internet television network’s stock after purchasing an additional 593 shares during the period. NewEdge Wealth LLC’s holdings in Netflix were worth $15,543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nordea Investment Management AB increased its position in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after acquiring an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after buying an additional 29,726 shares during the period. Sigma Planning Corp raised 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 during the last quarter. Natixis Advisors LLC lifted its stake in shares of Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares during the period. Finally, M&T Bank Corp boosted its holdings in Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,220 shares of company stock worth $289,856,164 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX opened at $990.06 on Thursday. The company 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 firm’s fifty day moving average price is $945.07 and its two-hundred day moving average price is $827.46. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Needham & Company LLC increased their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Arete Research raised Netflix to a “hold” rating in a research note on Thursday, January 23rd. Oppenheimer increased their target price on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix 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.