Patten Group Inc. Purchases 44 Shares of Netflix, Inc. (NASDAQ:NFLX)

Patten Group Inc. boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 901 shares of the Internet television network’s stock after acquiring an additional 44 shares during the period. Patten Group Inc.’s holdings in Netflix were worth $803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter valued at approximately $25,000. Pathway Financial Advisers LLC grew its holdings in Netflix by 82.4% during 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 in the last quarter. Newton One Investments LLC purchased a new stake in Netflix during the 4th quarter valued at approximately $34,000. MidAtlantic Capital Management Inc. purchased a new stake in Netflix during the 3rd quarter valued at approximately $37,000. Finally, Pineridge Advisors LLC grew its holdings in Netflix by 4,000.0% during 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 in the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NFLX shares. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $715.00 to $900.00 in a report on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. Macquarie increased their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group raised their target price on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Pivotal Research boosted their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Buying and Selling

In related news, insider David A. Hyman sold 41,121 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $30,946,506.10. This represents a 56.54 % 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, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock valued at $279,142,041 over the last three months. 1.76% of the stock is owned by company insiders.

Netflix Trading Down 0.1 %

NASDAQ NFLX opened at $972.58 on Wednesday. The company’s 50-day moving average price is $949.77 and its 200-day moving average price is $837.58. 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 $416.03 billion, a PE ratio of 49.05, a PEG ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping 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 firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the business posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share 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.