Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Patten & Patten Inc. TN

Patten & Patten Inc. TN lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,017 shares of the Internet television network’s stock after purchasing an additional 85 shares during the quarter. Patten & Patten Inc. TN’s holdings in Netflix were worth $1,797,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co raised its position in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares during the last quarter. Haven Private LLC acquired a new position in Netflix during the fourth quarter worth about $733,000. Charles Schwab Investment Management Inc. raised its position in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares during the last quarter. Finally, Sigma Planning Corp raised its position in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after acquiring an additional 386 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NFLX. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Robert W. Baird lifted their target price on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a report on Thursday, January 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,014.26.

Netflix Trading Up 3.1 %

Shares of NFLX stock opened at $918.00 on Monday. The stock has a market cap of $392.68 billion, a price-to-earnings ratio of 46.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. 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 fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The firm’s 50 day moving average price is $951.04 and its two-hundred day moving average price is $849.90.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 earnings per share. On average, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by company insiders.

Netflix Company 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.