Wallace Hart LLC Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Wallace Hart LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 16.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 412 shares of the Internet television network’s stock after purchasing an additional 58 shares during the quarter. Netflix comprises 0.3% of Wallace Hart LLC’s portfolio, making the stock its 15th biggest holding. Wallace Hart LLC’s holdings in Netflix were worth $367,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NFLX. Miller Financial Services LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $737,000. SPX Gestao de Recursos Ltda bought a new position in shares of Netflix during the fourth quarter worth $4,457,000. Global View Capital Management LLC purchased a new position in Netflix during the fourth quarter valued at $233,000. Cornerstone Advisors LLC increased its holdings in Netflix by 0.8% in the 4th quarter. Cornerstone Advisors LLC now owns 25,400 shares of the Internet television network’s stock valued at $22,640,000 after acquiring an additional 200 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Netflix by 22.4% in the 4th quarter. King Luther Capital Management Corp now owns 118,450 shares of the Internet television network’s stock worth $105,577,000 after purchasing an additional 21,676 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NFLX has been the subject of a number of research analyst reports. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. The Goldman Sachs Group lifted their price objective on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Morgan Stanley increased their target price on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Argus boosted their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Oppenheimer upped their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,014.26.

Netflix Stock Down 2.7 %

Shares of NASDAQ NFLX opened at $866.68 on Tuesday. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The firm has a market capitalization of $370.73 billion, a price-to-earnings ratio of 43.71, a PEG ratio of 2.12 and a beta of 1.38. The stock has a 50 day moving average price of $949.59 and a 200 day moving average price of $843.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the business earned $2.11 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock valued at $279,142,041 over the last ninety days. 1.76% of the stock is owned by company insiders.

Netflix Company 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.