Altus Wealth Group LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Altus Wealth Group LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,197 shares of the Internet television network’s stock after buying an additional 39 shares during the quarter. Altus Wealth Group LLC’s holdings in Netflix were worth $1,067,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NFLX. Gallacher Capital Management LLC boosted its position in shares of Netflix by 11.3% in the 4th quarter. Gallacher Capital Management LLC now owns 374 shares of the Internet television network’s stock worth $333,000 after purchasing an additional 38 shares in the last quarter. Patten & Patten Inc. TN raised its stake in Netflix by 4.4% in the fourth quarter. Patten & Patten Inc. TN now owns 2,017 shares of the Internet television network’s stock valued at $1,797,000 after buying an additional 85 shares during the last quarter. Facet Wealth Inc. boosted its holdings in Netflix by 3.4% in the fourth quarter. Facet Wealth Inc. now owns 1,220 shares of the Internet television network’s stock worth $1,087,000 after acquiring an additional 40 shares in the last quarter. Sovereign Investment Advisors LLC purchased a new stake in shares of Netflix during the fourth quarter worth about $217,000. Finally, Harbour Investments Inc. grew its stake in shares of Netflix by 2.7% during the fourth quarter. Harbour Investments Inc. now owns 5,139 shares of the Internet television network’s stock worth $4,581,000 after acquiring an additional 133 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 41,121 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is owned by insiders.

Netflix Stock Up 3.1 %

NFLX stock opened at $918.00 on Friday. The stock has a market capitalization of $392.68 billion, a P/E ratio of 46.29, a P/E/G 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 $951.04 and a 200-day simple moving average of $848.74. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Oppenheimer increased their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Guggenheim raised their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Piper Sandler restated an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Arete Research upgraded Netflix to a “hold” rating in a research note on Thursday, January 23rd. Ten analysts have rated the stock with a hold rating, twenty-five 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 an average rating of “Moderate Buy” and an average price target of $1,014.26.

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.