Chung Wu Investment Group LLC Buys New Stake in Netflix, Inc. (NASDAQ:NFLX)

Chung Wu Investment Group LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,565 shares of the Internet television network’s stock, valued at approximately $1,395,000. Netflix makes up 1.4% of Chung Wu Investment Group LLC’s holdings, making the stock its 17th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the company. West Michigan Advisors LLC lifted its position in shares of Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares in the last quarter. Enzi Wealth grew its stake in shares of Netflix by 3.4% during the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after purchasing an additional 11 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in Netflix by 1.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after buying an additional 11 shares during the last quarter. Blossom Wealth Management raised its stake in Netflix by 0.9% in the fourth quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock valued at $1,112,000 after buying an additional 11 shares in the last quarter. Finally, Everett Harris & Co. CA lifted its holdings in Netflix by 1.3% during the 4th quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock worth $775,000 after buying an additional 11 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Guggenheim increased their price objective on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Macquarie upped their target price on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. KeyCorp lifted their price target on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Activity

In related news, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $386,876.48. This trade represents a 98.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock valued at $279,142,041 over the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.9 %

Netflix stock opened at $990.92 on Thursday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The stock has a market cap of $423.87 billion, a PE ratio of 49.97, a P/E/G ratio of 2.12 and a beta of 1.27. The stock has a 50-day moving average price of $950.95 and a 200 day moving average price of $838.65. 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 announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.11 earnings per share. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share 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.