Heritage Wealth Management Inc. CA Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Heritage Wealth Management Inc. CA purchased a new position in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 236 shares of the Internet television network’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Principal Financial Group Inc. raised its stake in shares of Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after acquiring an additional 198,148 shares in the last quarter. Algert Global LLC purchased a new position in Netflix during the 3rd quarter worth $2,475,000. Larson Financial Group LLC raised its position in Netflix by 10.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,462 shares of the Internet television network’s stock valued at $1,746,000 after purchasing an additional 233 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after buying an additional 123,987 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Netflix during the 3rd quarter worth $2,793,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $971.99 on Tuesday. The company has a 50 day simple moving average of $961.71 and a two-hundred day simple moving average of $861.09. The stock has a market cap of $415.78 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. 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 earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during 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%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.11 earnings per share. As a group, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NFLX. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Loop Capital increased their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, KeyCorp boosted their price target on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

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.