Naviter Wealth LLC Has $2.98 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Naviter Wealth LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 20.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,347 shares of the Internet television network’s stock after buying an additional 570 shares during the quarter. Naviter Wealth LLC’s holdings in Netflix were worth $2,983,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. West Michigan Advisors LLC grew its position in shares of Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after purchasing an additional 10 shares during the last quarter. Enzi Wealth grew its position in shares of Netflix by 3.4% in the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after purchasing an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in shares of Netflix by 1.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after purchasing an additional 11 shares during the last quarter. Blossom Wealth Management grew its position in shares of Netflix by 0.9% in the fourth quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock valued at $1,112,000 after purchasing an additional 11 shares during the last quarter. Finally, Everett Harris & Co. CA grew its position in shares of Netflix by 1.3% in the fourth quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock valued at $775,000 after purchasing an additional 11 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. The trade was a 27.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the sale, the chairman now directly owns 394 shares of the company’s stock, valued at $386,876.48. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,103 shares of company stock valued at $279,142,041. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research analyst reports. The Goldman Sachs Group raised their price target on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC increased their target price on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Oppenheimer increased their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Robert W. Baird increased their target price on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Evercore ISI increased their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Stock Performance

Shares of Netflix stock opened at $891.11 on Friday. 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 firm has a market cap of $381.18 billion, a P/E ratio of 44.94, a P/E/G ratio of 2.12 and a beta of 1.38. The firm has a 50 day simple moving average of $950.26 and a 200 day simple moving average of $840.53. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business posted $2.11 earnings per share. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share 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.