Miller Financial Services LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Miller Financial Services LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 827 shares of the Internet television network’s stock, valued at approximately $737,000.

A number of other large investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Geode Capital Management LLC lifted its position in Netflix by 1.4% during 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 purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted 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 purchasing an additional 316,594 shares during the last quarter. Wellington Management Group LLP lifted its position 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 valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Netflix by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after purchasing an additional 45,507 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,624,746.55. The trade was a 41.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,103 shares of company stock worth $279,142,041. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NFLX shares. The Goldman Sachs Group lifted their target price on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC lifted their target price on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. UBS Group reiterated a “buy” rating on shares of Netflix in a research report on Monday. Macquarie lifted their target price on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Oppenheimer lifted their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” 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 issued a strong buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $1,014.26.

Netflix Stock Down 2.7 %

Shares of Netflix stock opened at $866.68 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. The company’s fifty day simple moving average is $949.59 and its two-hundred day simple moving average is $843.79. The company has a market cap of $370.73 billion, a P/E ratio of 43.71, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the firm earned $2.11 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Research analysts anticipate 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.