Transform Wealth LLC Acquires 8,183 Shares of Netflix, Inc. (NASDAQ:NFLX)

Transform Wealth LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 923.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,069 shares of the Internet television network’s stock after buying an additional 8,183 shares during the quarter. Transform Wealth LLC’s holdings in Netflix were worth $8,083,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Netflix in the third quarter valued at approximately $37,000. FSA Wealth Management LLC bought a new position in Netflix during the third quarter valued at $38,000. Finally, First Personal Financial Services purchased a new stake in Netflix in the third quarter worth $40,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % 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, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares in the company, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NFLX. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Argus boosted their price target on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. TD Cowen upped their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Piper Sandler lifted their price objective on shares of Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company increased their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $845.06.

Netflix Trading Up 1.9 %

Shares of NFLX opened at $858.10 on Tuesday. Netflix, Inc. has a 1-year low of $476.06 and a 1-year high of $941.75. The firm has a market capitalization of $366.80 billion, a price-to-earnings ratio of 48.56, a PEG ratio of 1.40 and a beta of 1.27. The firm’s 50-day moving average price is $885.64 and its 200-day moving average price is $760.81. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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.