Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Smith Group Asset Management LLC

Smith Group Asset Management LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,384 shares of the Internet television network’s stock after acquiring an additional 379 shares during the period. Netflix makes up about 2.3% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Smith Group Asset Management LLC’s holdings in Netflix were worth $30,647,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Advisory Resource Group grew its holdings in Netflix by 0.7% during the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after acquiring an additional 12 shares during the period. Insight Wealth Strategies LLC boosted its position in shares of Netflix by 1.9% during the 4th quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock worth $585,000 after purchasing an additional 12 shares in the last quarter. Sunflower Bank N.A. grew its stake in shares of Netflix by 2.1% during the 4th quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock worth $513,000 after purchasing an additional 12 shares during the period. D.B. Root & Company LLC increased its holdings in shares of Netflix by 4.1% in the 4th quarter. D.B. Root & Company LLC now owns 331 shares of the Internet television network’s stock valued at $295,000 after purchasing an additional 13 shares in the last quarter. Finally, New World Advisors LLC lifted its stake in shares of Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NFLX shares. StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. KeyCorp boosted their target price on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 41,601 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $64,435.10. The trade was a 99.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,117 shares of company stock valued at $123,913,691 over the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 0.0 %

NASDAQ NFLX opened at $971.83 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $999.00. The company’s 50 day moving average price is $899.64 and its 200 day moving average price is $772.71. The firm has a market capitalization of $415.42 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the business posted $2.11 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts predict that Netflix, Inc. will post 23.72 EPS for the current year.

About Netflix

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.