Towerpoint Wealth LLC Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Towerpoint Wealth LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 260 shares of the Internet television network’s stock, valued at approximately $232,000.

Several other large investors also recently bought and sold shares of NFLX. Hennion & Walsh Asset Management Inc. boosted its position in shares of Netflix by 137.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,508 shares of the Internet television network’s stock worth $1,344,000 after buying an additional 874 shares in the last quarter. Mason & Associates Inc acquired a new position in Netflix during the fourth quarter worth about $265,000. Stonebridge Capital Management Inc. acquired a new position in Netflix during the fourth quarter worth about $227,000. Financial Enhancement Group LLC purchased a new stake in shares of Netflix in the fourth quarter valued at about $338,000. Finally, Essex Savings Bank grew its position in shares of Netflix by 4.5% in the fourth quarter. Essex Savings Bank now owns 1,844 shares of the Internet television network’s stock valued at $1,644,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,186 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $750.00, for a total value of $3,139,500.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,817,500. This trade represents a 24.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction on Friday, October 18th. The shares were sold at an average price of $765.00, for a total value of $273,870.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at $26,975,430. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,742 shares of company stock valued at $131,030,268 over the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX traded up $12.77 during trading hours on Thursday, reaching $861.03. The company’s stock had a trading volume of 407,900 shares, compared to its average volume of 2,813,061. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $881.04 and a 200 day simple moving average of $755.96. Netflix, Inc. has a 52 week low of $475.26 and a 52 week high of $941.75. The stock has a market cap of $368.06 billion, a PE ratio of 48.73, a PEG ratio of 1.35 and a beta of 1.27.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Loop Capital downgraded Netflix from a “buy” rating to a “hold” rating and upped their price objective for the company from $800.00 to $950.00 in a research report on Monday, December 16th. Oppenheimer decreased their price objective on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating on the stock in a research note on Wednesday. Bank of America boosted their target price on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Piper Sandler raised their price target on shares of Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.82.

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.