Elite Wealth Management Inc. Invests $437,000 in Netflix, Inc. (NASDAQ:NFLX)

Elite Wealth Management Inc. purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 898 shares of the Internet television network’s stock, valued at approximately $437,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NFLX. Norges Bank bought a new position in Netflix in the 4th quarter worth approximately $1,501,762,000. Moneta Group Investment Advisors LLC grew its holdings in Netflix by 117,939.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock worth $808,575,000 after buying an additional 2,739,725 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Netflix by 202.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,790,092 shares of the Internet television network’s stock worth $788,518,000 after buying an additional 1,198,774 shares in the last quarter. Finally, Barclays PLC grew its holdings in Netflix by 113.1% in the 2nd quarter. Barclays PLC now owns 1,869,385 shares of the Internet television network’s stock worth $823,446,000 after buying an additional 992,193 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Netflix from $566.00 to $638.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Loop Capital increased their price target on Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, March 18th. UBS Group increased their price target on Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Guggenheim increased their price target on Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price target on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $603.48.

Insider Activity

In other news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,181,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,335 shares of company stock worth $151,619,811. Insiders own 2.45% of the company’s stock.

Netflix Price Performance

NFLX traded down $6.99 during midday trading on Wednesday, reaching $610.53. 1,420,464 shares of the company’s stock were exchanged, compared to its average volume of 4,214,590. The firm has a market capitalization of $264.21 billion, a price-to-earnings ratio of 51.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix, Inc. has a one year low of $315.62 and a one year high of $639.00. The business has a 50-day simple moving average of $603.65 and a two-hundred day simple moving average of $510.44.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The business had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. As a group, research analysts predict that Netflix, Inc. will post 17.03 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.