Berkshire Money Management Inc. Acquires Shares of 376 Netflix, Inc. (NASDAQ:NFLX)

Berkshire Money Management Inc. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 376 shares of the Internet television network’s stock, valued at approximately $335,000.

Several other institutional investors have also recently added to or reduced their stakes in NFLX. State Street Corp lifted its holdings in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC grew its position in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC raised its stake in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 1.6 %

Shares of NASDAQ:NFLX opened at $994.87 on Wednesday. The stock has a market cap of $425.57 billion, a PE ratio of 50.17, a P/E/G ratio of 2.02 and a beta of 1.27. The business has a 50 day moving average of $906.93 and a 200-day moving average of $781.90. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,008.00.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the firm earned $2.11 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 32,067 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $978.39, for a total transaction of $31,374,032.13. Following the sale, the chairman now owns 349 shares in the company, valued at approximately $341,458.11. This trade represents a 98.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 281,026 shares of company stock valued at $267,211,135 in the last quarter. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Bank of America raised their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective on the stock in a research note on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

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.