Grant Private Wealth Management Inc Purchases Shares of 3,025 Netflix, Inc. (NASDAQ:NFLX)

Grant Private Wealth Management Inc acquired 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. The fund acquired 3,025 shares of the Internet television network’s stock, valued at approximately $2,696,000. Netflix comprises 2.9% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 6th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of NFLX. Nordea Investment Management AB boosted its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co boosted its holdings in shares of Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after buying an additional 12 shares during the period. Haven Private LLC acquired a new position in Netflix in the 4th quarter valued at about $733,000. Sigma Planning Corp raised its holdings in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after acquiring an additional 386 shares during the period. Finally, M&T Bank Corp lifted its position in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,676 shares of company stock worth $273,515,672. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Macquarie increased their target price on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and increased their price objective for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Citigroup boosted their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Wedbush reaffirmed an “outperform” rating and set a $1,150.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,023.74.

Netflix Price Performance

Netflix stock opened at $935.52 on Thursday. The firm has a market cap of $400.18 billion, a P/E ratio of 47.18, a P/E/G ratio of 2.12 and a beta of 1.38. The stock’s 50 day moving average is $974.03 and its 200 day moving average is $873.22. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS 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 company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the firm posted $2.11 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.