Palisades Hudson Asset Management L.P. Acquires New Stake in Netflix, Inc. (NASDAQ:NFLX)

Palisades Hudson Asset Management L.P. acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, HoldingsChannel reports. The fund acquired 233 shares of the Internet television network’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its position in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares in the last quarter. State Street Corp boosted its position in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Netflix by 112,896.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after buying an additional 381,590 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Netflix in the 3rd quarter worth about $222,871,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $680.00 to $1,494.00 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. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Macquarie boosted their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,014.26.

Netflix Stock Down 2.7 %

Shares of NASDAQ:NFLX opened at $866.68 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The stock has a market capitalization of $370.73 billion, a P/E ratio of 43.71, a PEG ratio of 2.12 and a beta of 1.38. The stock has a 50-day simple moving average of $949.59 and a 200-day simple moving average of $843.79.

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

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by company insiders.

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.