Prakash Investment Advisors LLC Purchases Shares of 9,307 Netflix, Inc. (NASDAQ:NFLX)

Prakash Investment Advisors LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,307 shares of the Internet television network’s stock, valued at approximately $8,296,000. Netflix makes up 8.2% of Prakash Investment Advisors LLC’s investment portfolio, making the stock its 3rd biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the 3rd quarter valued at $25,000. Pathway Financial Advisers LLC raised its stake in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC acquired a new stake in Netflix during the 4th quarter worth $34,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Netflix during the 3rd quarter worth $37,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Down 1.8 %

Shares of NASDAQ NFLX opened at $1,024.54 on Friday. The firm’s 50-day moving average is $938.86 and its two-hundred day moving average is $815.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $438.26 billion, a PE ratio of 51.67, a price-to-earnings-growth ratio of 2.15 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 data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.11 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,220 shares of company stock valued at $289,856,164. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NFLX. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Morgan Stanley lifted their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, UBS Group lifted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.