Wedmont Private Capital Acquires 199 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wedmont Private Capital lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.2% in the fourth quarter, HoldingsChannel reports. The fund owned 9,293 shares of the Internet television network’s stock after buying an additional 199 shares during the period. Wedmont Private Capital’s holdings in Netflix were worth $7,785,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Federated Hermes Inc. boosted its stake in shares of Netflix by 42.9% during the second quarter. Federated Hermes Inc. now owns 72,844 shares of the Internet television network’s stock valued at $49,161,000 after purchasing an additional 21,858 shares during the period. 1ST Source Bank purchased a new stake in Netflix during the 2nd quarter valued at $239,000. Thoroughbred Financial Services LLC grew its holdings in Netflix by 99.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,802 shares of the Internet television network’s stock worth $1,216,000 after acquiring an additional 897 shares during the last quarter. Lyell Wealth Management LP increased its position in shares of Netflix by 10.3% in the second quarter. Lyell Wealth Management LP now owns 12,891 shares of the Internet television network’s stock valued at $8,700,000 after acquiring an additional 1,203 shares during the period. Finally, Poehling Capital Management INC. bought a new position in shares of Netflix during the second quarter valued at about $1,424,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX traded down $2.28 during midday trading on Monday, reaching $835.41. The company had a trading volume of 1,705,488 shares, compared to its average volume of 2,875,430. The business has a 50-day moving average of $878.06 and a two-hundred day moving average of $753.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 1 year low of $475.26 and a 1 year high of $941.75. The company has a market cap of $357.10 billion, a P/E ratio of 47.28, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NFLX shares. Morgan Stanley upped their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and set a $825.00 price target (up previously from $770.00) on shares of Netflix in a research report on Friday, October 18th. Evercore ISI raised their price objective on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Benchmark increased their target price on Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a research report on Friday, January 3rd. Finally, Wedbush restated an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $832.94.

Insider Activity

In other news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,742 shares of company stock valued at $131,030,268. 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.