Spartan Planning & Wealth Management Invests $645,000 in Netflix, Inc. (NASDAQ:NFLX)

Spartan Planning & Wealth Management acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 724 shares of the Internet television network’s stock, valued at approximately $645,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DigitalBridge Group Inc. increased its position in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after buying an additional 29,726 shares during the last quarter. Natixis Advisors LLC raised its position in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NFLX has been the topic of several recent analyst reports. Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Oppenheimer boosted their price target on Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $825.00 price objective (up from $770.00) on shares of Netflix in a research report on Friday, October 18th. Barclays reiterated an “underweight” rating and set a $550.00 target price on shares of Netflix in a research note on Friday, October 18th. Finally, TD Cowen increased their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $821.27.

Insider Activity

In related news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was 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. In the last quarter, insiders have sold 150,761 shares of company stock worth $125,713,484. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX traded down $2.75 on Tuesday, hitting $879.04. 1,261,083 shares of the stock were exchanged, compared to its average volume of 2,492,636. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 12 month low of $472.95 and a 12 month high of $941.75. The firm has a market capitalization of $375.75 billion, a price-to-earnings ratio of 49.75, a PEG ratio of 1.77 and a beta of 1.27. The business has a 50-day moving average of $869.23 and a two-hundred day moving average of $748.42.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

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.