Maridea Wealth Management LLC Acquires Shares of 298 Netflix, Inc. (NASDAQ:NFLX)

Maridea Wealth Management LLC acquired a new position in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, Holdings Channel.com reports. The firm acquired 298 shares of the Internet television network’s stock, valued at approximately $266,000.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its position in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the period. Newton One Investments LLC purchased a new stake in shares of Netflix in the fourth quarter worth about $34,000. Pineridge Advisors LLC grew its holdings in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the period. FSA Wealth Management LLC purchased a new position in Netflix during the third quarter valued at approximately $38,000. 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 acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the topic of a number of analyst reports. Argus raised their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Citigroup raised their target price on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.02.

Netflix Stock Performance

NASDAQ:NFLX opened at $933.85 on Friday. The company’s 50-day moving average is $971.74 and its two-hundred day moving average is $868.10. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $399.46 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.11 earnings per share. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In related news, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the director now directly 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 have sold a total of 288,583 shares of company stock valued at $279,611,567 in the last quarter. Insiders own 1.76% of the company’s stock.

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.