IMG Wealth Management Inc. Invests $250,000 in Netflix, Inc. (NASDAQ:NFLX)

IMG Wealth Management Inc. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, HoldingsChannel reports. The firm bought 281 shares of the Internet television network’s stock, valued at approximately $250,000.

Other large investors have also modified their holdings of the company. West Michigan Advisors LLC increased its position in Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after buying an additional 10 shares in the last quarter. Warwick Investment Management Inc. increased its position in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after buying an additional 10 shares in the last quarter. Enzi Wealth increased its position in Netflix by 3.4% during the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after buying an additional 11 shares in the last quarter. TCI Wealth Advisors Inc. increased its position in Netflix by 1.6% during the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock worth $624,000 after buying an additional 11 shares in the last quarter. Finally, Everett Harris & Co. CA increased its position in Netflix by 1.3% during the fourth quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock worth $775,000 after buying an additional 11 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,624,746.55. This represents a 41.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the sale, the chairman now owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Phillip Securities cut Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Loop Capital raised 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. Finally, Evercore ISI raised their price objective on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,014.26.

Netflix Trading Up 3.1 %

NASDAQ:NFLX opened at $918.00 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The business’s 50-day simple moving average is $951.04 and its 200 day simple moving average is $849.90. The stock has a market cap of $392.68 billion, a price-to-earnings ratio of 46.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

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

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.