Sheets Smith Wealth Management purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,367 shares of the Internet television network’s stock, valued at approximately $739,000.
A number of other hedge funds also recently bought and sold shares of the business. Stumpf Capital Management LLC purchased a new position in shares of Netflix in the 3rd quarter valued at about $25,000. NuWave Investment Management LLC increased its holdings in shares of Netflix by 411.1% in the 4th quarter. NuWave Investment Management LLC now owns 46 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 37 shares during the last quarter. JJJ Advisors Inc. increased its holdings in shares of Netflix by 168.4% in the 3rd quarter. JJJ Advisors Inc. now owns 51 shares of the Internet television network’s stock valued at $26,000 after acquiring an additional 32 shares during the last quarter. Newfound Research LLC purchased a new position in shares of Netflix in the 3rd quarter valued at about $31,000. Finally, Manchester Capital Management LLC increased its holdings in shares of Netflix by 1,525.0% in the 3rd quarter. Manchester Capital Management LLC now owns 65 shares of the Internet television network’s stock valued at $33,000 after acquiring an additional 61 shares during the last quarter. 76.10% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Guggenheim increased their price objective on Netflix from $530.00 to $570.00 and gave the company a “buy” rating in a report on Monday, September 28th. Cowen raised their price target on Netflix from $625.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, January 7th. Oppenheimer raised their price target on Netflix from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Credit Suisse Group set a $525.00 price target on Netflix and gave the stock a “neutral” rating in a research note on Monday. Finally, Loop Capital raised their price target on Netflix from $600.00 to $650.00 in a research note on Monday, November 2nd. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $536.14.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.39). The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.38 billion. Netflix had a return on equity of 31.48% and a net margin of 11.78%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.47 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 6.26 earnings per share for the current year.
In other news, Director Rodolphe Belmer sold 2,136 shares of Netflix stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $488.52, for a total value of $1,043,478.72. Following the completion of the sale, the director now owns 215 shares of the company’s stock, valued at $105,031.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 177,681 shares of Netflix stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $527.86, for a total value of $93,790,692.66. Following the completion of the sale, the chief executive officer now directly owns 32,739 shares of the company’s stock, valued at approximately $17,281,608.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 638,247 shares of company stock valued at $335,292,138. 3.40% of the stock is currently owned by insiders.
Netflix, Inc provides subscription streaming entertainment service. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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