240 Shares in Netflix, Inc. (NASDAQ:NFLX) Acquired by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, Holdings Channel reports. The fund acquired 240 shares of the Internet television network’s stock, valued at approximately $214,000.

Several other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Netflix during the 4th quarter valued at $5,019,087,000. Proficio Capital Partners LLC raised its holdings in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after buying an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after buying an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA grew its position in Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after acquiring an additional 743,724 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Netflix by 112,896.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after acquiring an additional 381,590 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total transaction of $604,481.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 25,360 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock valued at $267,919,297 over the last ninety days. 1.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Evercore ISI increased their price target on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. FBN Securities assumed coverage on Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price target for the company. KeyCorp reduced their price objective on Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Wednesday. Oppenheimer raised their price objective on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,017.31.

Netflix Stock Down 1.3 %

Shares of NFLX stock opened at $932.79 on Thursday. The firm has a market capitalization of $399.01 billion, a P/E ratio of 47.04, a PEG ratio of 2.12 and a beta of 1.55. The firm’s fifty day moving average price is $962.78 and its two-hundred day moving average price is $881.51. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

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.