Independent Advisor Alliance Purchases 2,284 Shares of Netflix, Inc. (NASDAQ:NFLX)

Independent Advisor Alliance grew its position in Netflix, Inc. (NASDAQ:NFLX) by 10.3% during the fourth quarter, HoldingsChannel reports. The firm owned 24,450 shares of the Internet television network’s stock after buying an additional 2,284 shares during the quarter. Independent Advisor Alliance’s holdings in Netflix were worth $21,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of NFLX. Swedbank AB boosted its holdings in Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after purchasing an additional 8,024 shares during the period. Principal Financial Group Inc. raised its position in shares of Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after buying an additional 198,148 shares during the last quarter. Summit Global Investments lifted its stake in shares of Netflix by 35.0% in the third quarter. Summit Global Investments now owns 999 shares of the Internet television network’s stock valued at $709,000 after buying an additional 259 shares during the period. Leavell Investment Management Inc. increased its stake in Netflix by 11.3% during the third quarter. Leavell Investment Management Inc. now owns 622 shares of the Internet television network’s stock valued at $441,000 after acquiring an additional 63 shares during the period. Finally, CWA Asset Management Group LLC acquired a new position in Netflix in the 3rd quarter valued at approximately $1,787,000. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $891.11 on Monday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $381.18 billion, a P/E ratio of 44.94, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The stock’s 50-day moving average price is $950.26 and its two-hundred day moving average price is $842.54.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business 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 business posted $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on NFLX. Evercore ISI boosted their price objective on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Citigroup increased their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Pivotal Research lifted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, Morgan Stanley lifted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $386,876.48. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,103 shares of company stock worth $279,142,041. Corporate insiders own 1.76% of the company’s stock.

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.