Selective Wealth Management Inc. Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Selective Wealth Management Inc. raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 427 shares of the Internet television network’s stock after purchasing an additional 50 shares during the period. Selective Wealth Management Inc.’s holdings in Netflix were worth $354,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. State Street Corp boosted its stake 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 worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Netflix by 1.4% in the 3rd 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 in the last quarter. Jennison Associates LLC boosted its stake in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Netflix by 0.5% in 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 buying an additional 23,702 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Guggenheim boosted their price target on shares of Netflix from $825.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Oppenheimer dropped their price target on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a research report on Wednesday. Argus increased their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup boosted their price objective on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Evercore ISI raised their target price on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $845.06.

Netflix Stock Up 1.9 %

Netflix stock opened at $858.10 on Friday. The firm has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27. The stock’s fifty day simple moving average is $883.32 and its 200-day simple moving average is $757.20. Netflix, Inc. has a twelve month low of $476.06 and a twelve month high of $941.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Richard N. Barton sold 5,698 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now directly owns 246 shares in the company, valued at $185,976. This represents a 95.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock valued at $127,616,898 over the last quarter. 1.76% of the stock is owned by insiders.

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.