Golden State Wealth Management LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Golden State Wealth Management LLC acquired a new position in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,089 shares of the Internet television network’s stock, valued at approximately $971,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at $25,000. Newton One Investments LLC bought a new position in Netflix in the fourth quarter valued at $34,000. Princeton Global Asset Management LLC raised its position in Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Netflix in the 4th quarter worth about $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. The trade was a 56.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy M. Haley sold 647 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 292,270 shares of company stock worth $278,469,388. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NFLX. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Pivotal Research lifted their price target on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Needham & Company LLC boosted their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Oppenheimer increased their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,015.68 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $434.47 billion, a price-to-earnings ratio of 51.22, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The business has a 50-day simple moving average of $912.05 and a two-hundred day simple moving average of $786.03. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,016.35.

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. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.11 earnings per share. On average, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.