BNC Wealth Management LLC Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

BNC Wealth Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,232 shares of the Internet television network’s stock after buying an additional 309 shares during the quarter. BNC Wealth Management LLC’s holdings in Netflix were worth $2,881,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ProVise Management Group LLC raised its position in Netflix by 29.3% in the 2nd quarter. ProVise Management Group LLC now owns 508 shares of the Internet television network’s stock valued at $343,000 after purchasing an additional 115 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Netflix by 9.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,227 shares of the Internet television network’s stock valued at $6,228,000 after buying an additional 766 shares during the period. AE Wealth Management LLC increased its stake in Netflix by 24.3% in the 2nd quarter. AE Wealth Management LLC now owns 10,466 shares of the Internet television network’s stock valued at $7,063,000 after buying an additional 2,044 shares during the period. Pacer Advisors Inc. increased its stake in Netflix by 17.7% in the 2nd quarter. Pacer Advisors Inc. now owns 64,556 shares of the Internet television network’s stock valued at $43,568,000 after buying an additional 9,700 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Netflix by 26.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 65,928 shares of the Internet television network’s stock valued at $44,493,000 after buying an additional 13,848 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total transaction of $980,289.90. Following the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at $1,960,579.80. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock worth $127,616,898 in the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.9 %

Shares of NFLX stock opened at $858.10 on Friday. The firm has a market cap of $366.80 billion, a P/E ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 1-year low of $476.06 and a 1-year high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s 50-day simple moving average is $884.58 and its 200-day simple moving average is $758.48.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Guggenheim boosted their price objective on shares of Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Jefferies Financial Group upped their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Macquarie upped their price target on shares of Netflix from $795.00 to $965.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

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.