Greystone Financial Group LLC Purchases New Position in Netflix, Inc. (NASDAQ:NFLX)

Greystone Financial Group LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 237 shares of the Internet television network’s stock, valued at approximately $211,000.

A number of other hedge funds have also bought and sold shares of the business. Nordea Investment Management AB raised its stake in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after buying an additional 29,726 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares during the period. M&T Bank Corp lifted its holdings in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares in the last quarter. Finally, Quilter Plc boosted its position in shares of Netflix by 8.2% in the fourth quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock valued at $128,133,000 after acquiring an additional 10,946 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of Netflix stock opened at $1,003.15 on Friday. The company’s fifty day simple moving average is $940.55 and its two-hundred day simple moving average is $818.44. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The firm has a market cap of $429.11 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, 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. In the last three months, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on NFLX. Needham & Company LLC upped their target price on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Arete Research upgraded Netflix to a “hold” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their price target on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Ten equities 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.