Crowley Wealth Management Inc. Buys New Position in Netflix, Inc. (NASDAQ:NFLX)

Crowley Wealth Management Inc. bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, Holdings Channel.com reports. The fund bought 394 shares of the Internet television network’s stock, valued at approximately $351,000.

Other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its position in Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. State Street Corp lifted its stake in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the period. Strategic Financial Concepts LLC grew its position in Netflix by 112,896.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after buying an additional 381,590 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Netflix during the third quarter valued at about $222,871,000. Finally, KBC Group NV raised its holdings in Netflix by 226.3% in the 4th quarter. KBC Group NV now owns 399,186 shares of the Internet television network’s stock valued at $355,803,000 after acquiring an additional 276,865 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NFLX has been the topic of a number of research reports. Argus boosted their price objective on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Stock Performance

Shares of NFLX stock opened at $960.29 on Friday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company’s fifty day simple moving average is $959.08 and its 200-day simple moving average is $857.81. The firm has a market cap of $410.77 billion, a PE ratio of 48.43, a P/E/G ratio of 2.12 and a beta of 1.38. 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 issued 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. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.11 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company’s stock.

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.