Morton Capital Management LLC CA Acquires New Position in Netflix, Inc. (NASDAQ:NFLX)

Morton Capital Management LLC CA bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 295 shares of the Internet television network’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. raised 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 worth $34,000 after buying an additional 42 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Netflix during the third quarter worth about $37,000. FSA Wealth Management LLC acquired a new position in Netflix in the third quarter valued at about $38,000. Finally, First Personal Financial Services bought a new stake in shares of Netflix in the third quarter worth about $40,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Pivotal Research lifted their price objective on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America lifted their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Needham & Company LLC increased their price objective on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Finally, Evercore ISI upped their target price on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $845.06.

Insider Activity

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at $185,976. This represents a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is owned by company insiders.

Netflix Price Performance

Netflix stock opened at $842.37 on Friday. The company has a market capitalization of $360.08 billion, a price-to-earnings ratio of 47.67, a PEG ratio of 1.35 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12 month low of $475.26 and a 12 month high of $941.75. The stock’s 50 day moving average is $882.41 and its 200-day moving average is $756.61.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Equities research analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Netflix 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.