Prestige Wealth Management Group LLC Buys 316 Shares of Netflix, Inc. (NASDAQ:NFLX)

Prestige Wealth Management Group LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 16.3% during the 4th quarter, Holdings Channel reports. The fund owned 2,250 shares of the Internet television network’s stock after acquiring an additional 316 shares during the period. Prestige Wealth Management Group LLC’s holdings in Netflix were worth $2,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NFLX. Nordea Investment Management AB grew 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 acquiring an additional 156,958 shares in the last quarter. First National Trust Co boosted its holdings in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC acquired a new position in shares of Netflix during the 4th quarter worth approximately $733,000. Sigma Planning Corp increased its holdings in shares of 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 purchasing an additional 386 shares during the period. Finally, M&T Bank Corp raised its position in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NFLX. Pivotal Research increased their price target on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Moffett Nathanson raised Netflix from a “neutral” rating to a “buy” rating and increased their target price for the stock from $850.00 to $1,100.00 in a report on Monday, March 17th. The Goldman Sachs Group boosted their price target on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. KeyCorp increased their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and boosted their target price for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,016.78.

Netflix Stock Performance

Shares of Netflix stock opened at $971.99 on Tuesday. The stock has a market cap of $415.78 billion, a price-to-earnings ratio of 49.02, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company’s fifty day moving average is $961.71 and its 200 day moving average is $861.09. 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 (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.11 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the director now directly owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock worth $279,142,041 over the last ninety days. Insiders own 1.76% of the company’s stock.

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.