Investment Research & Advisory Group Inc. Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Investment Research & Advisory Group Inc. lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,570 shares of the Internet television network’s stock after purchasing an additional 199 shares during the quarter. Netflix comprises about 1.0% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 25th biggest position. Investment Research & Advisory Group Inc.’s holdings in Netflix were worth $3,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix during the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Netflix during the third quarter worth $37,000. FSA Wealth Management LLC purchased a new stake in shares of Netflix during the third quarter valued at $38,000. Finally, First Personal Financial Services acquired a new position in shares of Netflix in the 3rd quarter valued at $40,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NFLX has been the topic of a number of research reports. Oppenheimer increased their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $715.00 to $900.00 in a report on Wednesday. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $940.00 to $1,150.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Trading Down 0.7 %

Shares of NFLX opened at $977.59 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $895.13 and a 200 day moving average price of $766.98. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $999.00. The firm has a market capitalization of $417.88 billion, a P/E ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter last year, the firm earned $2.11 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 23.72 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. Insiders have sold 147,117 shares of company stock worth $123,913,691 over the last quarter. 1.76% of the stock is currently owned by company insiders.

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.