Fortress Wealth Management Inc. Purchases Shares of 232 Netflix, Inc. (NASDAQ:NFLX)

Fortress Wealth Management Inc. acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 232 shares of the Internet television network’s stock, valued at approximately $207,000.

Other hedge funds also recently modified their holdings of the company. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after acquiring an additional 144 shares during the last quarter. Buffington Mohr McNeal acquired a new position in Netflix in the fourth quarter worth $202,000. Bay Rivers Group grew its holdings in shares of Netflix by 1.4% during the fourth quarter. Bay Rivers Group now owns 3,559 shares of the Internet television network’s stock worth $3,172,000 after purchasing an additional 50 shares during the last quarter. Integrity Wealth Solutions LLC increased its stake in shares of Netflix by 38.4% in the fourth quarter. Integrity Wealth Solutions LLC now owns 717 shares of the Internet television network’s stock valued at $639,000 after buying an additional 199 shares in the last quarter. Finally, Nilsine Partners LLC raised its holdings in shares of Netflix by 11.2% in the fourth quarter. Nilsine Partners LLC now owns 4,593 shares of the Internet television network’s stock valued at $4,094,000 after buying an additional 463 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $64,435.10. This trade represents a 99.80 % 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, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,117 shares of company stock worth $123,913,691. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NFLX shares. Arete Research raised shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. Citigroup increased their price target 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. Guggenheim boosted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Finally, Morgan Stanley lifted their target price on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Price Performance

Shares of NFLX opened at $971.89 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $999.00. The stock has a market capitalization of $415.44 billion, a P/E ratio of 49.01, a P/E/G ratio of 1.53 and a beta of 1.27. The company has a 50 day moving average of $895.13 and a 200-day moving average of $768.18.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter last year, the firm earned $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities research analysts forecast that Netflix, Inc. will post 23.72 EPS for the current fiscal year.

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.