Optimize Financial Inc Takes $1.30 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Optimize Financial Inc bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, HoldingsChannel reports. The firm bought 1,462 shares of the Internet television network’s stock, valued at approximately $1,303,000. Netflix comprises approximately 1.0% of Optimize Financial Inc’s holdings, making the stock its 27th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after acquiring an additional 198,148 shares in the last quarter. M&T Bank Corp raised its stake in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares in the last quarter. McIlrath & Eck LLC boosted its stake in Netflix by 13.8% in the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock valued at $175,000 after acquiring an additional 30 shares in the last quarter. Advisory Resource Group grew its holdings in Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after purchasing an additional 12 shares during the last quarter. Finally, Virtu Financial LLC increased its position in shares of Netflix by 356.5% during the third quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network’s stock worth $9,844,000 after purchasing an additional 10,839 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares of the company’s stock, valued at approximately $362,933.10. The trade was a 98.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 over the last three months. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $918.29 on Friday. The stock has a market capitalization of $392.80 billion, a P/E ratio of 46.31, a PEG ratio of 2.12 and a beta of 1.55. 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. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

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

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent analyst reports. Needham & Company LLC upped their target price on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and increased their price objective for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Pivotal Research boosted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Wolfe Research raised shares of 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, Arete Research raised shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,017.31.

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.