Strategic Wealth Partners Ltd. Takes $1.44 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Strategic Wealth Partners Ltd. acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,617 shares of the Internet television network’s stock, valued at approximately $1,441,000.

A number of other hedge funds have also modified their holdings of the business. Hennion & Walsh Asset Management Inc. grew its stake in Netflix by 137.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,508 shares of the Internet television network’s stock worth $1,344,000 after acquiring an additional 874 shares during the period. Capital & Planning LLC purchased a new stake in Netflix in the 4th quarter worth approximately $809,000. Sanibel Captiva Trust Company Inc. grew its stake in Netflix by 13.9% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 2,052 shares of the Internet television network’s stock worth $1,829,000 after acquiring an additional 250 shares during the period. Trust Co. of Vermont grew its stake in shares of Netflix by 2.5% during the 4th quarter. Trust Co. of Vermont now owns 570 shares of the Internet television network’s stock valued at $508,000 after buying an additional 14 shares during the period. Finally, Ameritas Advisory Services LLC grew its stake in shares of Netflix by 35.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 3,733 shares of the Internet television network’s stock valued at $3,327,000 after buying an additional 973 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 1,358 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,868 shares of company stock worth $138,483,256. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NFLX. UBS Group lowered their price objective on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Bank of America lifted their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Moffett Nathanson restated a “buy” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,093.39.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,191.53 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,196.50. The firm has a 50-day simple moving average of $1,009.34 and a 200 day simple moving average of $948.26. The company has a market cap of $507.08 billion, a PE ratio of 60.09, a P/E/G ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the prior year, the firm earned $8.28 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

About Netflix

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.