Prestige Wealth Management Group LLC Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Prestige Wealth Management Group LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 16.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,250 shares of the Internet television network's stock after buying an additional 316 shares during the period. Prestige Wealth Management Group LLC's holdings in Netflix were worth $2,005,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC raised its holdings in Netflix by 8.3% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 562 shares of the Internet television network's stock worth $501,000 after buying an additional 43 shares during the last quarter. First American Trust FSB bought a new stake in shares of Netflix during the fourth quarter worth about $210,000. Heritage Wealth Management Inc. CA acquired a new stake in shares of Netflix in the 4th quarter worth about $210,000. Zions Bancorporation N.A. lifted its position in Netflix by 4.7% in the 4th quarter. Zions Bancorporation N.A. now owns 13,928 shares of the Internet television network's stock valued at $12,414,000 after acquiring an additional 624 shares in the last quarter. Finally, FineMark National Bank & Trust boosted its stake in Netflix by 2.7% during the 4th quarter. FineMark National Bank & Trust now owns 2,289 shares of the Internet television network's stock valued at $2,040,000 after purchasing an additional 61 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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Netflix Price Performance

NASDAQ NFLX traded up $25.29 during trading hours on Tuesday, hitting $997.28. The company had a trading volume of 3,775,858 shares, compared to its average volume of 3,487,108. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $426.59 billion, a price-to-earnings ratio of 50.29, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The firm has a 50 day simple moving average of $965.09 and a 200 day simple moving average of $863.43.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 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 company 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 company earned $2.11 earnings per share. Netflix's revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wedbush reissued an "outperform" rating and issued a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Macquarie increased their price target on Netflix from $965.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. Pivotal Research lifted their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. Finally, Wolfe Research raised shares of Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target on the stock in a research report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and an average price target of $1,016.78.

Insider Buying and Selling

In other news, CAO Jeffrey William Karbowski sold 160 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,103 shares of company stock worth $279,142,041. Corporate insiders own 1.76% of the company's stock.

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.