Wallace Hart LLC Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Wallace Hart LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 412 shares of the Internet television network’s stock after acquiring an additional 58 shares during the period. Netflix accounts for approximately 0.3% of Wallace Hart LLC’s holdings, making the stock its 15th biggest holding. Wallace Hart LLC’s holdings in Netflix were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Miller Financial Services LLC purchased a new stake in shares of Netflix in the 4th quarter worth about $737,000. SPX Gestao de Recursos Ltda bought a new position in Netflix in the fourth quarter worth about $4,457,000. Global View Capital Management LLC purchased a new stake in Netflix in the fourth quarter worth about $233,000. Cornerstone Advisors LLC boosted its position in Netflix by 0.8% during the 4th quarter. Cornerstone Advisors LLC now owns 25,400 shares of the Internet television network’s stock valued at $22,640,000 after acquiring an additional 200 shares in the last quarter. Finally, King Luther Capital Management Corp grew its holdings in shares of Netflix by 22.4% during the 4th quarter. King Luther Capital Management Corp now owns 118,450 shares of the Internet television network’s stock worth $105,577,000 after acquiring an additional 21,676 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Guggenheim lifted their price target on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Pivotal Research boosted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,014.26.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at $3,624,746.55. This trade represents a 41.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,103 shares of company stock worth $279,142,041. Company insiders own 1.76% of the company’s stock.

Netflix Stock Down 2.7 %

Netflix stock opened at $866.68 on Tuesday. The stock has a market cap of $370.73 billion, a PE ratio of 43.71, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a fifty day moving average of $949.59 and a 200 day moving average of $843.79. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued 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 firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 EPS. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 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.