Beverly Hills Private Wealth LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Beverly Hills Private Wealth LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, Holdings Channel reports. The fund purchased 439 shares of the Internet television network’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. raised its holdings in shares of Netflix by 26.5% in the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after purchasing an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Netflix by 21.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after purchasing an additional 84,179 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Netflix by 14.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after purchasing an additional 363 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in shares of Netflix by 6.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after purchasing an additional 2,358 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after purchasing an additional 441 shares during the period. 80.93% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 3,673 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. Insiders own 2.45% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $617.52 on Wednesday. The company has a market cap of $267.24 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $603.65 and a 200 day simple moving average of $510.44. Netflix, Inc. has a one year low of $315.62 and a one year high of $639.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). The business had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. Netflix’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. Research analysts predict that Netflix, Inc. will post 17.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on NFLX shares. Loop Capital upped their price target on shares of Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley upped their price target on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Piper Sandler upped their price target on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. The Goldman Sachs Group upped their price target on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Citigroup upped their price target on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $603.48.

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.