Elite Wealth Management Inc. Purchases Shares of 898 Netflix, Inc. (NASDAQ:NFLX)

Elite Wealth Management Inc. purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 898 shares of the Internet television network’s stock, valued at approximately $437,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. Norges Bank bought a new stake in Netflix in the fourth quarter valued at $1,501,762,000. Moneta Group Investment Advisors LLC increased its stake in Netflix by 117,939.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock valued at $808,575,000 after purchasing an additional 2,739,725 shares in the last quarter. International Assets Investment Management LLC increased its stake in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after purchasing an additional 2,061,859 shares in the last quarter. Alliancebernstein L.P. increased its stake in Netflix by 202.7% in the second quarter. Alliancebernstein L.P. now owns 1,790,092 shares of the Internet television network’s stock valued at $788,518,000 after purchasing an additional 1,198,774 shares in the last quarter. Finally, Barclays PLC increased its stake in Netflix by 113.1% in the second quarter. Barclays PLC now owns 1,869,385 shares of the Internet television network’s stock valued at $823,446,000 after purchasing an additional 992,193 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

Netflix stock traded down $6.99 during midday trading on Wednesday, reaching $610.53. 1,420,464 shares of the stock were exchanged, compared to its average volume of 4,214,590. The company’s fifty day moving average is $603.65 and its 200-day moving average is $510.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $264.21 billion, a PE ratio of 51.23, a PEG ratio of 1.64 and a beta of 1.22. Netflix, Inc. has a 52 week low of $315.62 and a 52 week high of $639.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The company had revenue of $8.83 billion during the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. Netflix’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 EPS. On average, sell-side analysts forecast that Netflix, Inc. will post 17.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NFLX shares. Seaport Res Ptn downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 30th. Sanford C. Bernstein boosted their target price on shares of Netflix from $390.00 to $490.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Bank of America boosted their target price on shares of Netflix from $585.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. TD Cowen boosted their price target on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, KeyCorp boosted their price target on shares of Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $603.48.

Insider Activity

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. Corporate insiders own 2.45% of the company’s stock.

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.