Wedbush Securities Inc. Has $13.69 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Wedbush Securities Inc. grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,357 shares of the Internet television network’s stock after acquiring an additional 129 shares during the period. Netflix accounts for approximately 0.5% of Wedbush Securities Inc.’s holdings, making the stock its 25th largest position. Wedbush Securities Inc.’s holdings in Netflix were worth $13,688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co grew its position in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $733,000. Sigma Planning Corp grew its holdings in shares of Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after acquiring an additional 386 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. KeyCorp increased their price objective on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Finally, Needham & Company LLC increased their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,023.74.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,676 shares of company stock worth $273,515,672. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $855.86 on Friday. The firm has a market capitalization of $366.10 billion, a P/E ratio of 43.16, a P/E/G ratio of 2.12 and a beta of 1.38. 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, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The firm’s 50 day moving average is $970.24 and its two-hundred day moving average is $874.63.

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

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.