Peregrine Asset Advisers Inc. Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Peregrine Asset Advisers Inc. raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 139.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,042 shares of the Internet television network’s stock after purchasing an additional 1,189 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Netflix were worth $1,820,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC increased its stake in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter valued at $25,000. Newton One Investments LLC purchased a new stake in shares of Netflix during the fourth quarter valued at $34,000. Pineridge Advisors LLC increased its position in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC raised its stake in Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after acquiring an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $1,003.15 on Friday. 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, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm has a market capitalization of $429.11 billion, a PE ratio of 50.59, a P/E/G ratio of 2.16 and a beta of 1.27. The business’s 50 day moving average price is $940.55 and its 200-day moving average price is $818.44.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm posted $2.11 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NFLX shares. UBS Group boosted their price target on Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Guggenheim upped their target price on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Citigroup raised their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their price objective for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,220 shares of company stock valued at $289,856,164. Corporate 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.