Forbes J M & Co. LLP Takes $368,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Forbes J M & Co. LLP bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 413 shares of the Internet television network’s stock, valued at approximately $368,000.

Several other large investors have also added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix in the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC bought a new stake in Netflix in the 4th quarter valued at about $34,000. MidAtlantic Capital Management Inc. bought a new position in Netflix in the third quarter worth approximately $37,000. Finally, FSA Wealth Management LLC acquired a new stake in Netflix in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Jefferies Financial Group lifted their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Bank of America upped their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 685 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,009.57, for a total value of $691,555.45. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,726,322.87. This represents a 15.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,434 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,015.00, for a total value of $4,500,510.00. Following the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,144,250. This represents a 25.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 299,517 shares of company stock valued at $285,805,037 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX opened at $1,013.93 on Friday. The firm has a market capitalization of $433.72 billion, a price-to-earnings ratio of 51.13, a P/E/G ratio of 2.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a fifty day moving average of $917.36 and a 200 day moving average of $790.17. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,027.76.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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%. Netflix’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.11 earnings per share. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.