Naples Money Management LLC Takes $4 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Naples Money Management LLC acquired a new stake 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 institutional investor acquired 8,223 shares of the Internet television network’s stock, valued at approximately $4,004,000. Netflix comprises approximately 3.7% of Naples Money Management LLC’s portfolio, making the stock its 3rd biggest holding.

Other institutional investors have also modified their holdings of the company. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter worth about $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix during the 3rd quarter worth about $26,000. Blue Bell Private Wealth Management LLC boosted its holdings in Netflix by 89.7% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after acquiring an additional 35 shares during the period. Carmel Capital Partners LLC boosted its holdings in Netflix by 290.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 58 shares during the period. Finally, Pacifica Partners Inc. purchased a new position in Netflix in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of analyst reports. Canaccord Genuity Group restated a “hold” rating and issued a $585.00 price target (down previously from $720.00) on shares of Netflix in a report on Friday. TD Cowen upped their price target on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Oppenheimer restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a report on Friday. Redburn Atlantic increased their target price on Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Canaccord Genuity Group cut Netflix from a “buy” rating to a “hold” rating and reduced their target price for the company from $720.00 to $585.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Stock Performance

NASDAQ NFLX traded down $55.52 during trading hours on Friday, hitting $555.04. The company had a trading volume of 16,426,221 shares, compared to its average volume of 4,457,433. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The firm has a market cap of $240.20 billion, a P/E ratio of 46.42, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The business has a fifty day simple moving average of $605.77 and a 200-day simple moving average of $511.86. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the business posted $2.88 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts predict that Netflix, Inc. will post 17.05 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.