Magnolia Private Wealth LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Magnolia Private Wealth LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 500 shares of the Internet television network’s stock, valued at approximately $446,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its holdings in Netflix by 0.6% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,735 shares of the Internet television network’s stock valued at $3,329,000 after purchasing an additional 21 shares during the last quarter. Weil Company Inc. raised its stake in shares of Netflix by 17.1% during the 4th quarter. Weil Company Inc. now owns 649 shares of the Internet television network’s stock worth $578,000 after buying an additional 95 shares during the last quarter. Cutter & CO Brokerage Inc. purchased a new stake in shares of Netflix in the 4th quarter worth about $212,000. Kirtland Hills Capital Management LLC grew its stake in Netflix by 8.5% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 496 shares of the Internet television network’s stock valued at $442,000 after acquiring an additional 39 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Netflix in the 4th quarter valued at about $129,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $977.24 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $418.02 billion, a PE ratio of 49.28, a P/E/G ratio of 2.12 and a beta of 1.27. The company’s fifty day simple moving average is $943.06 and its 200-day simple moving average is $826.31. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

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. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 EPS. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NFLX. JPMorgan Chase & Co. upped their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and upped their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on 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 sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is currently owned by company insiders.

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.