Modern Wealth Management LLC Has $919,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Modern Wealth Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 37.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,031 shares of the Internet television network’s stock after buying an additional 279 shares during the period. Modern Wealth Management LLC’s holdings in Netflix were worth $919,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NFLX. Pathway Financial Advisers LLC boosted its holdings in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix in the 3rd quarter worth $25,000. Newton One Investments LLC acquired a new stake in Netflix in the 4th quarter valued at $34,000. Pineridge Advisors LLC increased its stake in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC raised its holdings in Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $5,596,374.32. Following the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,583 shares of company stock valued at $279,611,567. Insiders own 1.76% of the company’s stock.

Netflix Stock Down 2.7 %

Shares of NASDAQ:NFLX opened at $970.65 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $967.54 and a two-hundred day simple moving average of $864.18. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The stock has a market capitalization of $415.20 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during 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%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 EPS. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Pivotal Research boosted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Arete Research upgraded shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. Finally, Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued 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 target price of $1,016.78.

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.