Bragg Financial Advisors Inc Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Bragg Financial Advisors Inc raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,221 shares of the Internet television network’s stock after acquiring an additional 171 shares during the period. Bragg Financial Advisors Inc’s holdings in Netflix were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after purchasing an additional 198,148 shares during the last quarter. M&T Bank Corp raised its holdings in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares during the period. McIlrath & Eck LLC raised its holdings in Netflix by 13.8% during the 3rd quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock valued at $175,000 after buying an additional 30 shares during the period. Advisory Resource Group lifted its position in Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after buying an additional 12 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in Netflix by 356.5% during the third quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network’s stock worth $9,844,000 after buying an additional 10,839 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the subject of several analyst reports. Moffett Nathanson upgraded shares of Netflix from a “neutral” rating to a “buy” rating and raised their target price for the stock from $850.00 to $1,100.00 in a report on Monday, March 17th. Oppenheimer raised their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Wedbush reissued an “outperform” rating and set a $1,150.00 price target on shares of Netflix in a research note on Friday. Finally, Morgan Stanley upped their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,017.31.

Netflix Price Performance

Shares of NFLX stock opened at $918.29 on Monday. The firm has a market capitalization of $392.80 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50-day simple moving average is $960.09 and its 200-day simple moving average is $885.47. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

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

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. This represents a 41.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 in the last 90 days. 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.