Prentice Wealth Management LLC Boosts Position in Netflix, Inc. (NASDAQ:NFLX)

Prentice Wealth Management LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 787 shares of the Internet television network’s stock after purchasing an additional 41 shares during the period. Prentice Wealth Management LLC’s holdings in Netflix were worth $701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. Nordea Investment Management AB boosted its position in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after buying an additional 29,726 shares during the last quarter. Natixis Advisors LLC lifted its stake in Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares during the period. Finally, Quilter Plc grew its position in shares of Netflix by 8.2% during the fourth quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock worth $128,133,000 after acquiring an additional 10,946 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $1,003.15 on Friday. The firm has a market capitalization of $429.11 billion, a PE ratio of 50.59, a P/E/G ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The firm’s 50-day simple moving average is $940.55 and its 200 day simple moving average is $818.44. 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 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 the consensus estimate of $10.14 billion. During the same quarter in the prior year, the firm earned $2.11 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NFLX shares. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and upped their price target for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Pivotal Research upped their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Bank of America raised their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Loop Capital upped their price objective on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Finally, Guggenheim lifted their target price on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction dated 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. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by insiders.

Netflix Company 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.