Summit Securities Group LLC Takes $61,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Summit Securities Group LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 68 shares of the Internet television network’s stock, valued at approximately $61,000.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. Principal Financial Group Inc. grew its holdings in shares of Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after purchasing an additional 198,148 shares during the last quarter. Tradition Wealth Management LLC grew its stake in shares of Netflix by 11.1% during the third quarter. Tradition Wealth Management LLC now owns 859 shares of the Internet television network’s stock worth $609,000 after buying an additional 86 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its holdings in shares of Netflix by 5.6% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 681 shares of the Internet television network’s stock worth $483,000 after buying an additional 36 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Netflix during the third quarter worth $145,252,000. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in shares of Netflix by 776.3% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 333 shares of the Internet television network’s stock valued at $236,000 after acquiring an additional 295 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group restated a “buy” rating on shares of Netflix in a research report on Monday, March 10th. JPMorgan Chase & Co. boosted their price target on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. StockNews.com lowered shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.02.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,583 shares of company stock valued at $279,611,567. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $933.85 on Monday. The stock has a market cap of $399.46 billion, a P/E ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38. The business’s fifty day moving average is $971.74 and its 200 day moving average is $869.42. 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 $1,064.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the company earned $2.11 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.