NRI Wealth Management LC Makes New $3.17 Million Investment in Netflix, Inc. (NASDAQ:NFLX)

NRI Wealth Management LC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,559 shares of the Internet television network’s stock, valued at approximately $3,172,000. Netflix accounts for approximately 2.2% of NRI Wealth Management LC’s investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also modified their holdings of NFLX. Advisory Resource Group lifted its stake in shares of Netflix by 0.7% in the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares during the period. New World Advisors LLC increased its holdings in Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares in the last quarter. Heartland Bank & Trust Co lifted its stake in Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after buying an additional 15 shares during the period. Cedrus LLC boosted its holdings in shares of Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after buying an additional 15 shares in the last quarter. Finally, Capstone Triton Financial Group LLC grew its position in shares of Netflix by 0.6% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after buying an additional 15 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 0.5 %

Netflix stock opened at $886.73 on Friday. The firm has a 50 day moving average price of $861.40 and a 200-day moving average price of $743.72. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $465.77 and a twelve month high of $941.75. The company has a market capitalization of $379.04 billion, a P/E ratio of 50.18, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. As a group, equities analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,893 shares of company stock worth $93,859,830. 1.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a research note on Monday, November 18th. Citigroup increased their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Evercore ISI upped their price target on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Canaccord Genuity Group upped their target price on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $807.70.

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.