Graney & King LLC Invests $107,000 in Netflix, Inc. (NASDAQ:NFLX)

Graney & King LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 120 shares of the Internet television network’s stock, valued at approximately $107,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the third quarter valued at approximately $25,000. Pathway Financial Advisers LLC lifted its holdings in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Newton One Investments LLC purchased a new position in Netflix in the 4th quarter valued at about $34,000. Pineridge Advisors LLC grew its stake in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Netflix during the third quarter worth about $38,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Reed Hastings sold 35,868 shares of the 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 transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $982.05, for a total value of $2,554,312.05. Following the transaction, the chief financial officer now owns 3,691 shares in the company, 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 a total of 288,103 shares of company stock worth $279,142,041 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NFLX. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Moffett Nathanson raised shares of Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $850.00 to $1,100.00 in a report on Monday, March 17th. The Goldman Sachs Group lifted their price target on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $1,150.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Performance

Shares of Netflix stock opened at $997.28 on Wednesday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $426.59 billion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The business has a fifty day simple moving average of $965.09 and a 200-day simple moving average of $863.43.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $2.11 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.