Naviter Wealth LLC Has $2.98 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Naviter Wealth LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,347 shares of the Internet television network's stock after acquiring an additional 570 shares during the period. Naviter Wealth LLC's holdings in Netflix were worth $2,983,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix during the 3rd quarter worth approximately $25,000. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Newton One Investments LLC acquired a new position in Netflix in the 4th quarter valued at $34,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the 3rd quarter worth $37,000. Finally, Pineridge Advisors LLC lifted its stake in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Down 1.7 %

Shares of NASDAQ:NFLX traded down $15.25 during trading on Friday, reaching $891.11. 7,733,383 shares of the company traded hands, compared to its average volume of 3,352,894. The firm has a fifty day simple moving average of $950.26 and a 200 day simple moving average of $841.52. The firm has a market cap of $381.18 billion, a P/E ratio of 44.94, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 EPS. Netflix's quarterly revenue was up 16.0% compared to the same quarter last year. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Ann Mather sold 2,682 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NFLX. BMO Capital Markets reissued an "outperform" rating and set a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded Netflix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Canaccord Genuity Group upgraded Netflix from a "hold" rating to a "buy" rating and raised their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a "neutral" rating to a "buy" rating and raised their target price for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Finally, Robert W. Baird increased their price target on shares of Netflix from $875.00 to $1,200.00 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Netflix has an average rating of "Moderate Buy" and a consensus target price of $1,021.70.

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.