Potomac Fund Management Inc. ADV Purchases New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Potomac Fund Management Inc. ADV acquired a new position in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 331 shares of the Internet television network’s stock, valued at approximately $295,000.

Several other institutional investors also recently modified their holdings of NFLX. Discovery Capital Management LLC CT boosted its stake in Netflix by 21.5% during the fourth quarter. Discovery Capital Management LLC CT now owns 17,500 shares of the Internet television network’s stock worth $15,598,000 after buying an additional 3,100 shares in the last quarter. Groupama Asset Managment raised its stake in shares of Netflix by 1,117.1% in the 4th quarter. Groupama Asset Managment now owns 6,195 shares of the Internet television network’s stock valued at $5,578,000 after buying an additional 5,686 shares in the last quarter. Alliance Wealth Management Group bought a new position in shares of Netflix during the 4th quarter worth about $205,000. OV Management LLC boosted its position in shares of Netflix by 6.0% during the 4th quarter. OV Management LLC now owns 1,330 shares of the Internet television network’s stock valued at $1,185,000 after acquiring an additional 75 shares in the last quarter. Finally, May Hill Capital LLC bought a new stake in Netflix in the fourth quarter valued at about $1,214,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $928.38 on Wednesday. The stock has a market cap of $397.12 billion, a P/E ratio of 46.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The stock’s 50-day moving average price is $974.40 and its two-hundred day moving average price is $872.78. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for 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%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. 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 over the last three months. 1.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NFLX has been the subject of a number of analyst reports. Needham & Company LLC raised their price target on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Loop Capital reiterated a “hold” rating on shares of Netflix in a research report on Monday, March 24th. Macquarie increased their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $1,021.02.

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.