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

Certus Wealth Management LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, Holdings Channel.com reports. The firm bought 213 shares of the Internet television network’s stock, valued at approximately $190,000.

Several other institutional investors have also added to or reduced their stakes in NFLX. Proficio Capital Partners LLC boosted its holdings in shares of Netflix by 123,836.7% during 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 buying an additional 1,924,423 shares in the last quarter. State Street Corp raised its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Strategic Financial Concepts LLC raised its position in shares of 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 purchasing an additional 381,590 shares during the period. Jennison Associates LLC raised its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Netflix during the third quarter worth approximately $222,871,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NFLX shares. Macquarie upped their target price on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Oppenheimer upped their target price on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird increased their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Up 3.2 %

Shares of NASDAQ NFLX opened at $959.49 on Thursday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The business has a 50-day simple moving average of $955.11 and a two-hundred day simple moving average of $854.07. 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 company has a market cap of $410.43 billion, a P/E ratio of 48.39, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued its 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 during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the company earned $2.11 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, 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. Insiders sold a total of 288,103 shares of company stock worth $279,142,041 in the last quarter. 1.76% of the stock is owned by company insiders.

Netflix 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.