Instrumental Wealth LLC Purchases Shares of 234 Netflix, Inc. (NASDAQ:NFLX)

Instrumental Wealth LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 234 shares of the Internet television network's stock, valued at approximately $209,000.

A number of other hedge funds also recently modified their holdings of the stock. Brown Shipley& Co Ltd bought a new stake in Netflix in the 4th quarter valued at $27,000. Pathway Financial Advisers LLC lifted its holdings in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after buying an additional 14 shares in the last quarter. Transce3nd LLC bought a new stake in shares of Netflix in the fourth quarter valued at about $32,000. Newton One Investments LLC bought a new stake in shares of Netflix in the fourth quarter valued at about $34,000. Finally, Pineridge Advisors LLC increased its position in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NFLX. Cfra Research raised shares of Netflix to a "strong-buy" rating in a report on Monday, April 28th. Morgan Stanley increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Guggenheim restated a "buy" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Oppenheimer reiterated an "outperform" rating and set a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Macquarie increased their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,102.79.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders sold a total of 132,868 shares of company stock valued at $138,483,256 in the last three months. Insiders own 1.37% of the company's stock.

Netflix Trading Up 2.2%

NASDAQ NFLX traded up $26.18 during trading hours on Tuesday, reaching $1,211.57. The company's stock had a trading volume of 2,916,636 shares, compared to its average volume of 3,754,011. The firm has a fifty day simple moving average of $1,040.74 and a 200-day simple moving average of $965.67. 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, Inc. has a 52 week low of $587.04 and a 52 week high of $1,211.79. The stock has a market cap of $515.61 billion, a P/E ratio of 61.10, a P/E/G ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter last year, the firm earned $8.28 earnings per share. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share 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.