BNC Wealth Management LLC Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

BNC Wealth Management LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLXFree Report) by 10.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,232 shares of the Internet television network’s stock after purchasing an additional 309 shares during the period. BNC Wealth Management LLC’s holdings in Netflix were worth $2,881,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NFLX. Sandy Cove Advisors LLC lifted its position in Netflix by 2.2% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,277 shares of the Internet television network’s stock valued at $1,138,000 after acquiring an additional 27 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its position in Netflix by 2.8% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 885 shares of the Internet television network’s stock valued at $788,000 after acquiring an additional 24 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its position in Netflix by 6.9% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,172 shares of the Internet television network’s stock valued at $1,045,000 after acquiring an additional 76 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in Netflix during the fourth quarter valued at approximately $370,000. Finally, Smith Salley Wealth Management lifted its position in Netflix by 14.7% during the fourth quarter. Smith Salley Wealth Management now owns 1,706 shares of the Internet television network’s stock valued at $1,521,000 after acquiring an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $858.10 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s 50-day moving average is $884.58 and its two-hundred day moving average is $758.48. Netflix, Inc. has a 12 month low of $476.06 and a 12 month high of $941.75. The company has a market capitalization of $366.80 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLXGet Free Report) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock worth $127,616,898 over the last three months. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Netflix from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen raised their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Citigroup raised their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Evercore ISI raised their price target on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Pivotal Research raised their price target on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $845.06.

Check Out Our Latest Stock Report on Netflix

About Netflix

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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