HB Wealth Management LLC Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

HB Wealth Management LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,681 shares of the Internet television network's stock after purchasing an additional 419 shares during the period. HB Wealth Management LLC's holdings in Netflix were worth $12,195,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of NFLX. Trust Co. of Vermont boosted its holdings in Netflix by 2.5% during the fourth quarter. Trust Co. of Vermont now owns 570 shares of the Internet television network's stock worth $508,000 after purchasing an additional 14 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its position in shares of Netflix by 13.9% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 2,052 shares of the Internet television network's stock valued at $1,829,000 after acquiring an additional 250 shares during the last quarter. Howard Financial Services LTD. lifted its holdings in Netflix by 16.1% during the fourth quarter. Howard Financial Services LTD. now owns 1,012 shares of the Internet television network's stock worth $902,000 after acquiring an additional 140 shares during the period. Arkadios Wealth Advisors grew its stake in Netflix by 6.8% in the 4th quarter. Arkadios Wealth Advisors now owns 3,637 shares of the Internet television network's stock valued at $3,242,000 after purchasing an additional 231 shares during the period. Finally, Lake Street Private Wealth LLC increased its position in shares of Netflix by 4.4% during the 4th quarter. Lake Street Private Wealth LLC now owns 1,342 shares of the Internet television network's stock valued at $1,196,000 after purchasing an additional 56 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In related news, Director Richard N. Barton sold 5,698 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now owns 246 shares in the company, valued at $185,976. The trade was a 95.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares of the company's stock, valued at $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock valued at $127,616,898 in the last three months. Company insiders own 1.76% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on NFLX shares. BMO Capital Markets raised their price objective on shares of Netflix from $825.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Wednesday. Jefferies Financial Group lifted their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, October 18th. KeyCorp raised their target price on Netflix from $760.00 to $785.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Seaport Res Ptn raised Netflix from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Netflix from $820.00 to $830.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $845.06.

Netflix Stock Up 1.9 %

Shares of NASDAQ NFLX traded up $15.73 during mid-day trading on Friday, hitting $858.10. 3,563,913 shares of the stock traded hands, compared to its average volume of 2,297,633. The company has a market cap of $366.80 billion, a price-to-earnings ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. The stock has a fifty day moving average price of $884.58 and a 200-day moving average price of $758.48. Netflix, Inc. has a 52 week low of $476.06 and a 52 week high of $941.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts' consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts' expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Research analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current 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.