Hidden Cove Wealth Management LLC Acquires New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Hidden Cove Wealth Management LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 429 shares of the Internet television network’s stock, valued at approximately $382,000.

Several other institutional investors also recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC acquired a new position in Netflix in the 4th quarter valued at approximately $34,000. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the third quarter valued at $37,000. Finally, Pineridge Advisors LLC lifted its holdings in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and increased their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. UBS Group lifted their price objective on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Robert W. Baird increased their target price on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Oppenheimer raised their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Activity at Netflix

In related news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Insiders have sold a total of 303,809 shares of company stock valued at $290,374,484 over the last 90 days. Insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.9 %

Shares of NASDAQ NFLX opened at $1,027.31 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50-day moving average price of $922.08 and a 200-day moving average price of $797.72. The stock has a market capitalization of $439.44 billion, a P/E ratio of 51.81, a P/E/G ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,032.85.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.