Netflix, Inc. (NASDAQ:NFLX) Stake Boosted by Grimes & Company Inc.

Grimes & Company Inc. increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 362 shares of the Internet television network’s stock after buying an additional 17 shares during the quarter. Grimes & Company Inc.’s holdings in Netflix were worth $323,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the last quarter. Decker Retirement Planning Inc. bought a new stake in Netflix in the fourth quarter worth approximately $43,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix during the 3rd quarter worth $37,000. Finally, FSA Wealth Management LLC bought a new position in shares of Netflix during the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFLX. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a research report on Thursday. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $975.00 to $1,200.00 in a report on Friday. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group upped their target price on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley lifted their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Nine investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $977.59 on Monday. The stock has a market capitalization of $417.88 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $999.00. The stock has a 50 day moving average price of $895.13 and a 200 day moving average price of $767.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last released 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 net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same period last year, the business earned $2.11 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. Analysts predict that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,117 shares of company stock worth $123,913,691 in the last ninety days. 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.