MGB Wealth Management LLC Purchases New Shares in Netflix, Inc. (NASDAQ:NFLX)

MGB Wealth Management LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 370 shares of the Internet television network’s stock, valued at approximately $331,000.

A number of other hedge funds have also recently added to or reduced their stakes in NFLX. AMF Tjanstepension AB raised its position in Netflix by 7.4% in the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock worth $48,557,000 after purchasing an additional 4,701 shares during the last quarter. Creative Planning increased its stake in shares of Netflix by 10.8% in the 3rd quarter. Creative Planning now owns 110,551 shares of the Internet television network’s stock valued at $78,410,000 after buying an additional 10,782 shares during the period. Swedbank AB raised its position in shares of Netflix by 1.8% during the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after acquiring an additional 8,024 shares during the last quarter. Keystone Wealth Services LLC acquired a new position in shares of Netflix during the third quarter valued at $303,000. Finally, Prospect Financial Services LLC boosted its holdings in Netflix by 69.1% in the third quarter. Prospect Financial Services LLC now owns 585 shares of the Internet television network’s stock valued at $415,000 after acquiring an additional 239 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 303,809 shares of company stock worth $290,374,484. 1.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Pivotal Research boosted their price objective on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Macquarie boosted their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their price objective on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Guggenheim raised their target price on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

NFLX opened at $1,027.31 on Thursday. 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 12-month low of $542.01 and a 12-month high of $1,032.85. The business has a 50 day moving average of $922.08 and a 200-day moving average of $797.72. The stock has a market cap of $439.44 billion, a price-to-earnings ratio of 51.81, a PEG ratio of 2.11 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted 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 return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the business earned $2.11 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.