Towerpoint Wealth LLC Invests $232,000 in Netflix, Inc. (NASDAQ:NFLX)

Towerpoint Wealth LLC purchased a new position in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 260 shares of the Internet television network’s stock, valued at approximately $232,000.

A number of other hedge funds also recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of 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 valued at $34,000 after acquiring an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix during the third quarter valued at approximately $37,000. FSA Wealth Management LLC purchased a new position in Netflix in the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services bought a new position in Netflix in the 3rd quarter valued at approximately $40,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX traded up $12.77 during trading on Thursday, hitting $861.03. The stock had a trading volume of 407,900 shares, compared to its average volume of 2,813,061. The firm has a market capitalization of $368.06 billion, a P/E ratio of 48.73, a PEG ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a twelve month low of $475.26 and a twelve month high of $941.75. The company’s 50-day moving average price is $881.04 and its 200 day moving average price is $755.96.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for 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%. On average, equities research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock worth $131,030,268 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NFLX. Barclays boosted their price target on Netflix from $550.00 to $715.00 and gave the stock an “underweight” rating in a research note on Tuesday. Needham & Company LLC boosted their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler raised their price target on shares of Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group lifted their price target on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Loop Capital downgraded shares of Netflix from a “buy” rating to a “hold” rating and increased their price objective for the company from $800.00 to $950.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $845.82.

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.