Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by BlackDiamond Wealth Management LLC

BlackDiamond Wealth Management LLC increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.3% during the fourth quarter, HoldingsChannel reports. The fund owned 805 shares of the Internet television network’s stock after buying 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 reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the third quarter worth $25,000. Pathway Financial Advisers LLC grew its holdings in Netflix by 82.4% during the fourth 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 period. Newton One Investments LLC acquired a new position in Netflix during the fourth quarter worth $34,000. MidAtlantic Capital Management Inc. acquired a new position in Netflix during the third quarter worth $37,000. Finally, Pineridge Advisors LLC grew its holdings in Netflix by 4,000.0% during the fourth 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 period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In other news, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20. Following the sale, the chairman now owns 394 shares of the company’s stock, valued at approximately $386,876.48. This trade represents a 98.72 % decrease in their position. 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 currently owned by corporate insiders.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $950.02 on Tuesday. The firm has a market capitalization of $406.38 billion, a PE ratio of 47.91, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business has a 50-day moving average of $952.40 and a two-hundred day moving average of $851.72. Netflix, Inc. has a 12 month low of $542.01 and a 12 month 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 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the prior year, the firm posted $2.11 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on NFLX. BMO Capital Markets reiterated an “outperform” rating and set a $1,175.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Evercore ISI boosted their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, Robert W. Baird boosted their target price on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

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.