Petix & Botte Co Buys New Shares in Netflix, Inc. (NASDAQ:NFLX)

Petix & Botte Co purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 488 shares of the Internet television network’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Authentikos Wealth Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter worth approximately $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix during the 3rd quarter worth $26,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Netflix by 89.7% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after purchasing an additional 35 shares during the last quarter. Carmel Capital Partners LLC lifted its position in shares of Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Finally, Pacifica Partners Inc. purchased a new stake in shares of Netflix during the 4th quarter worth $41,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Macquarie lifted their price objective on shares of Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Sanford C. Bernstein lifted their price objective on shares of Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research note on Friday, April 19th. KeyCorp lifted their price objective on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $631.15.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Netflix news, Director Anne M. Sweeney sold 3,029 shares of Netflix stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $580.00, for a total value of $1,756,820.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,408 shares of company stock worth $90,944,851. 1.76% of the stock is owned by insiders.

Netflix Price Performance

Shares of NFLX stock traded up $17.63 during trading hours on Monday, hitting $596.97. The company’s stock had a trading volume of 3,683,139 shares, compared to its average volume of 4,428,370. The business has a fifty day moving average of $602.76 and a 200-day moving average of $530.17. The stock has a market cap of $257.27 billion, a price-to-earnings ratio of 41.43, a P/E/G ratio of 1.40 and a beta of 1.23. Netflix, Inc. has a twelve month low of $322.03 and a twelve month high of $639.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the business earned $2.88 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts anticipate that Netflix, Inc. will post 18.3 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.