Legacy Capital Group California Inc. Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Legacy Capital Group California Inc. lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 113.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,963 shares of the Internet television network’s stock after purchasing an additional 1,572 shares during the quarter. Netflix accounts for about 0.8% of Legacy Capital Group California Inc.’s holdings, making the stock its 16th largest holding. Legacy Capital Group California Inc.’s holdings in Netflix were worth $2,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter valued at about $25,000. Pathway Financial Advisers LLC lifted its position in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $34,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Netflix in the third quarter worth approximately $37,000. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 1.8 %

NASDAQ NFLX opened at $1,024.54 on Friday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. 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’s fifty day moving average price is $938.86 and its 200-day moving average price is $815.63. The stock has a market cap of $438.26 billion, a P/E ratio of 51.67, a P/E/G ratio of 2.16 and a beta of 1.27.

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

Insider Activity

In other news, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,338,500. The trade was a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,220 shares of company stock worth $289,856,164 over the last 90 days. 1.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Guggenheim increased their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Robert W. Baird boosted their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Loop Capital increased their price objective on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued 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 a consensus target price of $1,021.70.

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.