Perigon Wealth Management LLC Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Perigon Wealth Management LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,943 shares of the Internet television network’s stock after buying an additional 674 shares during the quarter. Perigon Wealth Management LLC’s holdings in Netflix were worth $10,060,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings 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 purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Netflix during the 3rd quarter worth approximately $37,000. FSA Wealth Management LLC purchased a new stake in Netflix during the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services acquired a new position in shares of Netflix in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock worth $123,913,691 over the last ninety days. 1.76% of the stock is owned by corporate insiders.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $971.89 on Tuesday. The stock has a market cap of $415.44 billion, a PE ratio of 49.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $999.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a fifty day moving average of $895.13 and a 200-day moving average of $768.18.

Netflix (NASDAQ:NFLX) last announced its quarterly 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. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 23.72 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on NFLX shares. KeyCorp boosted their price target 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. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 target price (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Morgan Stanley boosted their target price on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Needham & Company LLC upped their price target on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Arete Research raised Netflix to a “hold” rating in a research report on Thursday, January 23rd. Ten research 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.