BlackDiamond Wealth Management LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

BlackDiamond Wealth Management LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 11.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 805 shares of the Internet television network’s stock after purchasing an additional 82 shares during the period. BlackDiamond Wealth Management LLC’s holdings in Netflix were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the 3rd quarter worth $25,000. Pathway Financial Advisers LLC increased its stake in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Newton One Investments LLC acquired a new stake in shares of Netflix in the 4th quarter worth $34,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Netflix in the 3rd quarter worth $37,000. Finally, Pineridge Advisors LLC increased its stake in shares of Netflix by 4,000.0% in 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 last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on NFLX shares. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. KeyCorp raised their price objective on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Finally, Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $950.02 on Tuesday. 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 twelve month low of $542.01 and a twelve month high of $1,064.50. The stock has a 50 day moving average of $952.40 and a two-hundred day moving average of $851.72. The stock has a market cap of $406.38 billion, a P/E ratio of 47.91, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 41,121 shares of the business’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 value of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is owned by insiders.

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.