Verus Wealth Management LLC Takes $220,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Verus Wealth Management LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 247 shares of the Internet television network’s stock, valued at approximately $220,000.

A number of other hedge funds have also modified their holdings of the business. Advisory Resource Group boosted its stake in shares of Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares during the period. Insight Wealth Strategies LLC raised its holdings in Netflix by 1.9% in the fourth quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after acquiring an additional 12 shares in the last quarter. Sunflower Bank N.A. raised its holdings in Netflix by 2.1% during the fourth quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock worth $513,000 after purchasing an additional 12 shares in the last quarter. D.B. Root & Company LLC raised its holdings in Netflix by 4.1% during the fourth quarter. D.B. Root & Company LLC now owns 331 shares of the Internet television network’s stock worth $295,000 after purchasing an additional 13 shares in the last quarter. Finally, New World Advisors LLC raised its holdings in Netflix by 2.0% during the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Down 0.0 %

Shares of Netflix stock opened at $971.83 on Wednesday. The firm has a market cap of $415.42 billion, a price-to-earnings ratio of 49.01, a P/E/G ratio of 1.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $999.00. The stock has a 50-day simple moving average of $899.64 and a 200-day simple moving average of $772.71.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 earnings per share. On average, equities research analysts expect that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NFLX shares. Guggenheim raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. KeyCorp raised their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $1,150.00 target price (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Oppenheimer raised their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Activity

In other news, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $64,435.10. This trade represents a 99.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Anne M. Sweeney sold 589 shares of the firm’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 value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold 147,117 shares of company stock valued at $123,913,691 over the last 90 days. 1.76% of the stock is owned by company insiders.

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.