Rinkey Investments Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Rinkey Investments bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 295 shares of the Internet television network’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Norges Bank bought a new position in shares of Netflix during the fourth quarter valued at $5,019,087,000. Proficio Capital Partners LLC increased its holdings in Netflix by 123,836.7% in the fourth 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 purchasing an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership raised its position 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 worth $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after buying an additional 743,724 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in shares of 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 buying an additional 381,590 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NFLX shares. Canaccord Genuity Group upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, April 21st. Loop Capital restated a “hold” rating on shares of Netflix in a report on Monday, March 24th. KeyCorp increased their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Phillip Securities raised Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Finally, Bank of America raised their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note 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 assigned a strong buy rating to the company. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $1,072.12.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 160 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,855 shares of company stock valued at $267,474,816 in the last 90 days. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX opened at $1,101.53 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $471.19 billion, a P/E ratio of 55.55, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a fifty-two week low of $544.25 and a fifty-two week high of $1,106.80. The firm has a 50-day moving average of $955.92 and a 200 day moving average of $903.65.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the previous year, the firm posted $8.28 EPS. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.