NewEdge Advisors LLC Has $41.88 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

NewEdge Advisors LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,984 shares of the Internet television network’s stock after acquiring an additional 3,346 shares during the quarter. NewEdge Advisors LLC’s holdings in Netflix were worth $41,878,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC increased 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 valued at $27,000 after purchasing an additional 14 shares during the last quarter. Newton One Investments LLC purchased a new position in Netflix during the 4th quarter valued at about $34,000. Pineridge Advisors LLC increased its holdings in 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 acquiring an additional 40 shares during the period. Princeton Global Asset Management LLC raised its position in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Netflix in the 4th quarter valued at about $43,000. 80.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 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 approximately $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,312 shares of company stock worth $267,919,297. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NFLX. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $715.00 to $900.00 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 stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and increased their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.31.

Netflix Stock Up 4.8 %

Shares of Netflix stock opened at $976.28 on Wednesday. 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, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a market cap of $417.61 billion, a P/E ratio of 49.23, a PEG ratio of 2.12 and a beta of 1.55. The company’s fifty day simple moving average is $957.71 and its two-hundred day simple moving average is $887.65.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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 company had revenue of $10.25 billion for 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 quarterly revenue was up 16.0% on a year-over-year basis. Research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current 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.