Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,924 shares of the Internet television network’s stock after purchasing an additional 1,771 shares during the period. Congress Wealth Management LLC DE’s holdings in Netflix were worth $16,868,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after acquiring an additional 198,148 shares during the last quarter. Algert Global LLC acquired a new position in shares of Netflix in the 3rd quarter valued at about $2,475,000. Larson Financial Group LLC grew its holdings in shares of Netflix by 10.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,462 shares of the Internet television network’s stock worth $1,746,000 after purchasing an additional 233 shares during the period. Fisher Asset Management LLC increased its position in Netflix by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after purchasing an additional 123,987 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Netflix in the third quarter valued at approximately $2,793,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NFLX shares. Bank of America boosted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Guggenheim upped their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. KeyCorp raised their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a research report on Thursday, January 23rd. Finally, Oppenheimer raised their target price on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,016.78.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the completion of the sale, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,624,746.55. This trade represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is owned by corporate insiders.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $971.99 on Tuesday. The stock has a market cap of $415.78 billion, a P/E ratio of 49.02, a P/E/G ratio of 2.12 and a beta of 1.38. The firm’s 50-day simple moving average is $961.71 and its 200 day simple moving average is $861.09. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.11 EPS. Equities analysts expect that Netflix, Inc. will post 24.58 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.