Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Independent Wealth Network Inc.

Independent Wealth Network Inc. boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 17.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 483 shares of the Internet television network’s stock after purchasing an additional 73 shares during the quarter. Independent Wealth Network Inc.’s holdings in Netflix were worth $431,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NFLX. Wesbanco Bank Inc. increased its holdings in shares of Netflix by 12.1% in the fourth quarter. Wesbanco Bank Inc. now owns 10,062 shares of the Internet television network’s stock valued at $8,968,000 after buying an additional 1,083 shares in the last quarter. Evolution Wealth Advisors LLC raised its stake in Netflix by 13.0% during the 4th quarter. Evolution Wealth Advisors LLC now owns 582 shares of the Internet television network’s stock valued at $519,000 after purchasing an additional 67 shares during the period. Albion Financial Group UT raised its stake in Netflix by 622.2% during the 4th quarter. Albion Financial Group UT now owns 65 shares of the Internet television network’s stock valued at $58,000 after purchasing an additional 56 shares during the period. Advisory Alpha LLC raised its stake in Netflix by 9.0% during the 4th quarter. Advisory Alpha LLC now owns 2,051 shares of the Internet television network’s stock valued at $1,828,000 after purchasing an additional 170 shares during the period. Finally, West Branch Capital LLC raised its stake in Netflix by 46.7% during the 4th quarter. West Branch Capital LLC now owns 2,038 shares of the Internet television network’s stock valued at $1,817,000 after purchasing an additional 649 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on NFLX shares. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and boosted their price target for the company from $940.00 to $1,150.00 in a report on Wednesday. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. Bank of America upped their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup upped their price target on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Finally, Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $993.82.

Netflix Stock Performance

Shares of NFLX opened at $953.99 on Thursday. The firm has a 50-day moving average of $886.64 and a 200-day moving average of $762.07. Netflix, Inc. has a one year low of $481.40 and a one year high of $999.00. The company has a market cap of $407.79 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter last year, the firm posted $2.11 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Netflix, Inc. will post 23.43 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at $185,976. The trade was a 95.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 41,601 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $64,435.10. This represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,198 shares of company stock valued at $127,616,898. Company insiders own 1.76% of the company’s stock.

Netflix Company 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.