Instrumental Wealth LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Instrumental Wealth LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 234 shares of the Internet television network’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Norges Bank bought a new position in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. Proficio Capital Partners LLC grew its holdings in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after acquiring an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after acquiring an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after acquiring an additional 570,674 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 $3,624,746.55. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,868 shares of company stock worth $138,483,256. Corporate insiders own 1.76% of the company’s stock.

Netflix Trading Down 0.2%

Shares of NFLX stock opened at $1,185.39 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,211.22. The company has a market capitalization of $504.47 billion, a PE ratio of 59.78, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The business’s fifty day moving average is $1,036.22 and its 200 day moving average is $961.79.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the business posted $8.28 earnings per share. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on NFLX. Oppenheimer reaffirmed an “outperform” rating and issued a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a report on Monday, March 24th. Pivotal Research upped their target price on Netflix from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, April 21st. Wedbush reissued an “outperform” rating and set a $1,200.00 price objective on shares of Netflix in a report on Monday, May 5th. Finally, Benchmark reissued a “hold” rating on shares of Netflix in a report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,102.79.

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.