Trek Financial LLC Buys 4,608 Shares of Netflix, Inc. (NASDAQ:NFLX)

Trek Financial LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 830.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,163 shares of the Internet television network’s stock after purchasing an additional 4,608 shares during the quarter. Trek Financial LLC’s holdings in Netflix were worth $4,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its holdings in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Newton One Investments LLC bought a new position in Netflix in the fourth quarter valued at about $34,000. Pineridge Advisors LLC boosted its stake in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after purchasing an additional 16 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Netflix in the fourth quarter valued at approximately $43,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NFLX. KeyCorp upped their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and increased their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,023.74.

Netflix Stock Performance

NASDAQ NFLX opened at $855.86 on Friday. The stock has a market capitalization of $366.10 billion, a PE ratio of 43.16, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company’s 50 day simple moving average is $970.24 and its two-hundred day simple moving average is $875.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

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

Insider Activity at Netflix

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

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.