TrinityPoint Wealth LLC Buys Shares of 343 Netflix, Inc. (NASDAQ:NFLX)

TrinityPoint Wealth LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 343 shares of the Internet television network’s stock, valued at approximately $306,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after acquiring an additional 171,712 shares in the last quarter. FMR LLC raised its stake in shares of Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after acquiring an additional 175,596 shares in the last quarter. Norges Bank purchased a new position in shares of Netflix during the fourth quarter worth approximately $5,019,087,000. Finally, Alliancebernstein L.P. raised its stake in shares of Netflix by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock worth $4,582,568,000 after acquiring an additional 82,564 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on NFLX shares. Oppenheimer reissued an “outperform” rating and set a $1,200.00 price target (up from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. Needham & Company LLC reissued a “buy” rating and set a $1,126.00 price target on shares of Netflix in a research note on Thursday, April 17th. Guggenheim reissued a “buy” rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Cfra Research raised shares of Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Finally, Phillip Securities raised shares of Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,093.39.

Netflix Stock Performance

Shares of NFLX stock opened at $1,191.53 on Monday. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,196.50. The stock has a market cap of $507.08 billion, a PE ratio of 60.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average price is $1,009.34 and its 200-day moving average price is $948.26.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the previous year, the business posted $8.28 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director now owns 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,868 shares of company stock worth $138,483,256. Corporate insiders own 1.76% of the company’s stock.

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.