Keystone Financial Group Buys 592 Shares of Netflix, Inc. (NASDAQ:NFLX)

Keystone Financial Group lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 25.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,909 shares of the Internet television network’s stock after purchasing an additional 592 shares during the period. Keystone Financial Group’s holdings in Netflix were worth $2,659,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NFLX. Norges Bank bought a new position in Netflix during the fourth quarter worth about $5,019,087,000. Proficio Capital Partners LLC raised its stake in Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after buying an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after buying an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after acquiring an additional 743,724 shares during the period. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Netflix by 112,896.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after acquiring an additional 381,590 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $918.29 on Friday. The stock has a market cap of $392.80 billion, a PE ratio of 46.31, a PEG ratio of 2.12 and a beta of 1.55. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $960.09 and a two-hundred day simple moving average of $884.26. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. Macquarie raised their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Oppenheimer upped their target price on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” 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 price target for the company in a report on Thursday, January 23rd. Finally, Phillip Securities downgraded Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. 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’s stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,017.31.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,402,068.52. This represents a 41.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is currently owned by insiders.

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.