Towercrest Capital Management Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Towercrest Capital Management bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 238 shares of the Internet television network’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC increased its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix during the third quarter worth approximately $25,000. Newton One Investments LLC acquired a new position in shares of Netflix during the fourth quarter worth approximately $34,000. Pineridge Advisors LLC lifted its holdings in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC lifted its holdings in Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after buying an additional 16 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX stock opened at $960.29 on Monday. The stock has a market capitalization of $410.77 billion, a PE ratio of 48.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $959.08 and its 200 day simple moving average is $859.06.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 EPS. As a group, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,103 shares of company stock valued at $279,142,041. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent analyst reports. Bank of America lifted their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and lifted their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Pivotal Research lifted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,016.78.

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.