Left Brain Wealth Management LLC Acquires 930 Shares of Netflix, Inc. (NASDAQ:NFLX)

Left Brain Wealth Management LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,880 shares of the Internet television network’s stock after purchasing an additional 930 shares during the period. Netflix comprises about 4.0% of Left Brain Wealth Management LLC’s portfolio, making the stock its 4th largest position. Left Brain Wealth Management LLC’s holdings in Netflix were worth $10,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atala Financial Inc purchased a new stake in shares of Netflix in the fourth quarter valued at about $366,000. Parnassus Investments LLC increased its position in shares of Netflix by 8.7% during the 4th quarter. Parnassus Investments LLC now owns 1,234 shares of the Internet television network’s stock valued at $1,100,000 after purchasing an additional 99 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Netflix during the 4th quarter valued at $1,280,000. Impact Capital Partners LLC purchased a new stake in shares of Netflix during the 4th quarter valued at $2,382,000. Finally, Commonwealth Equity Services LLC increased its position in shares of Netflix by 3.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 148,247 shares of the Internet television network’s stock valued at $132,135,000 after purchasing an additional 4,902 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 3.2 %

NASDAQ NFLX opened at $890.17 on Friday. The firm has a market cap of $380.78 billion, a PE ratio of 44.89, a price-to-earnings-growth 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 stock has a 50-day moving average of $950.30 and a 200-day moving average of $846.09. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Analyst Ratings Changes

NFLX has been the subject of several research analyst reports. Argus raised their target price on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Evercore ISI raised their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group raised their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Arete Research raised Netflix to a “hold” rating in a research report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,014.26.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock worth $279,142,041 in the last ninety days. 1.76% of the stock is owned by company insiders.

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.