Concurrent Investment Advisors LLC Has $10.66 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Concurrent Investment Advisors LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 34.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,959 shares of the Internet television network's stock after purchasing an additional 3,061 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Netflix were worth $10,659,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter valued at $25,000. Pathway Financial Advisers LLC raised its holdings in shares of Netflix by 82.4% in 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 period. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network's stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC purchased a new stake in shares of Netflix during the 4th quarter worth about $34,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Netflix during the 3rd quarter worth approximately $37,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFLX has been the topic of a number of recent research reports. Argus lifted their price target on shares of Netflix from $840.00 to $1,040.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $650.00 to $875.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on shares of Netflix from $850.00 to $960.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and upped their target price for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, Needham & Company LLC raised their price objective on Netflix from $800.00 to $1,150.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,021.70.

Netflix Stock Performance

Shares of NFLX traded down $21.89 during trading hours on Friday, reaching $1,002.65. 3,089,271 shares of the company's stock traded hands, compared to its average volume of 4,110,222. The business's fifty day simple moving average is $938.86 and its two-hundred day simple moving average is $815.63. The firm has a market capitalization of $428.89 billion, a price-to-earnings ratio of 50.56, a P/E/G ratio of 2.16 and a beta of 1.27. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate 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 last year, the business posted $2.11 earnings per share. The company's quarterly revenue was up 16.0% on a year-over-year basis. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other news, insider David A. Hyman sold 41,121 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares of the company's stock, valued at $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,220 shares of company stock worth $289,856,164. Corporate insiders own 1.76% of the company's stock.

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.