Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Summit Financial LLC

Summit Financial LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,911 shares of the Internet television network’s stock after acquiring an additional 285 shares during the quarter. Summit Financial LLC’s holdings in Netflix were worth $930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Authentikos Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter valued at $25,000. Spartan Planning & Wealth Management acquired a new position in Netflix in the third quarter valued at $26,000. Carmel Capital Partners LLC grew its holdings in shares of Netflix by 290.0% during the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its position in shares of Netflix by 89.7% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after purchasing an additional 35 shares in the last quarter. Finally, Pacifica Partners Inc. purchased a new stake in shares of Netflix in the 4th quarter valued at about $41,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 0.9 %

Shares of NASDAQ:NFLX traded up $5.19 during midday trading on Thursday, hitting $556.90. 446,828 shares of the company’s stock traded hands, compared to its average volume of 4,418,504. Netflix, Inc. has a twelve month low of $315.85 and a twelve month high of $639.00. The company has a market cap of $239.97 billion, a PE ratio of 38.29, a P/E/G ratio of 1.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s fifty day moving average price is $603.12 and its two-hundred day moving average price is $524.53.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. On average, equities research analysts anticipate that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was 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 in the company, valued at $8,181,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction dated Monday, March 18th. The stock was 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 of the company’s stock, valued at $8,181,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,839 shares of company stock valued at $77,788,745. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of several recent analyst reports. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. CICC Research initiated coverage on Netflix in a report on Thursday. They issued an “outperform” rating and a $650.00 price target for the company. Pivotal Research upped their price objective on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. DZ Bank raised Netflix from a “hold” rating to a “buy” rating and set a $600.00 target price for the company in a report on Thursday, January 25th. Finally, Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and lowered their target price for the stock from $720.00 to $585.00 in a research report on Friday, April 19th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $631.15.

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.