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

Prentice Wealth Management LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 787 shares of the Internet television network’s stock after purchasing an additional 41 shares during the quarter. Prentice Wealth Management LLC’s holdings in Netflix were worth $701,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares during the last quarter. Jennison Associates LLC grew its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the period. Wellington Management Group LLP increased its stake in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after purchasing an additional 123,987 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Oppenheimer boosted their target price on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and raised their target price for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Arete Research upgraded Netflix to a “hold” rating in a report on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Stock Performance

NFLX stock opened at $1,003.15 on Friday. The stock’s 50 day simple moving average is $940.55 and its 200 day simple moving average is $818.44. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The firm has a market cap of $429.11 billion, a P/E ratio of 50.59, a P/E/G ratio of 2.12 and a beta of 1.27. 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 (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the firm posted $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,939 shares of the company’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 transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. This represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,220 shares of company stock valued at $289,856,164 over the last quarter. Insiders own 1.76% of the company’s stock.

Netflix 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.