Magnolia Capital Advisors LLC Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Magnolia Capital Advisors LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 630 shares of the Internet television network’s stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Douglas Lane & Associates LLC lifted its stake in shares of Netflix by 12.5% in the third quarter. Douglas Lane & Associates LLC now owns 559 shares of the Internet television network’s stock worth $211,000 after acquiring an additional 62 shares during the period. Capital Investment Advisors LLC lifted its stake in shares of Netflix by 5.2% in the third quarter. Capital Investment Advisors LLC now owns 1,284 shares of the Internet television network’s stock worth $485,000 after acquiring an additional 63 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Netflix by 21.2% in the third quarter. DAVENPORT & Co LLC now owns 7,129 shares of the Internet television network’s stock worth $2,692,000 after acquiring an additional 1,247 shares during the period. Park Place Capital Corp lifted its stake in shares of Netflix by 15.9% in the third quarter. Park Place Capital Corp now owns 1,733 shares of the Internet television network’s stock worth $654,000 after acquiring an additional 238 shares during the period. Finally, Founders Financial Securities LLC lifted its stake in shares of Netflix by 18.7% in the third quarter. Founders Financial Securities LLC now owns 2,224 shares of the Internet television network’s stock worth $840,000 after acquiring an additional 351 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NFLX. Needham & Company LLC raised Netflix from a “hold” rating to a “buy” rating and set a $700.00 price target on the stock in a research note on Friday, April 19th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Redburn Atlantic boosted their price objective on Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price objective on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $585.00 price objective (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $630.58.

Netflix Stock Performance

NASDAQ:NFLX traded down $22.63 during trading on Wednesday, reaching $555.12. The company’s stock had a trading volume of 5,303,842 shares, compared to its average volume of 4,527,938. Netflix, Inc. has a 12 month low of $315.62 and a 12 month high of $639.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The firm has a 50 day moving average of $605.56 and a 200-day moving average of $517.91. The firm has a market cap of $239.20 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts expect that Netflix, Inc. will post 17.87 EPS for the current fiscal year.

Insider Activity

In other news, CEO Gregory K. Peters sold 5,533 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $575.00, for a total transaction of $3,181,475.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,526,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory K. Peters sold 5,533 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $575.00, for a total transaction of $3,181,475.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,526,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders have sold 160,106 shares of company stock valued at $92,729,716 in the last 90 days. Insiders own 2.45% of the company’s stock.

About Netflix

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.