1620 Investment Advisors Inc. Increases Position in Netflix, Inc. (NASDAQ:NFLX)

1620 Investment Advisors Inc. lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 214.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88 shares of the Internet television network’s stock after buying an additional 60 shares during the period. 1620 Investment Advisors Inc.’s holdings in Netflix were worth $78,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC grew its position in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix in the 3rd quarter valued at $25,000. Newton One Investments LLC purchased a new position in shares of Netflix in the 4th quarter valued at $34,000. Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its position in shares of Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after buying an additional 16 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction that occurred on 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. Insiders sold a total of 288,103 shares of company stock worth $279,142,041 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on NFLX. Oppenheimer increased their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Loop Capital raised their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Stock Performance

Shares of NFLX opened at $960.29 on Friday. 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 stock has a market cap of $410.77 billion, a P/E ratio of 48.43, a PEG ratio of 2.12 and a beta of 1.38. The company has a 50-day moving average of $959.08 and a two-hundred day moving average of $856.54. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.11 earnings per share. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.