Patten Group Inc. Makes New $249,000 Investment in Netflix, Inc. (NASDAQ:NFLX)

Patten Group Inc. acquired a new stake in Netflix, Inc. (NASDAQ:NFLXFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 512 shares of the Internet television network’s stock, valued at approximately $249,000.

A number of other institutional investors have also modified their holdings of the company. Authentikos Wealth Advisory LLC purchased a new stake in Netflix during the third quarter worth approximately $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix during the 3rd quarter valued at about $26,000. Carmel Capital Partners LLC lifted its position in Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in Netflix by 94.9% in the 1st quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network’s stock worth $40,000 after acquiring an additional 56 shares during the period. Finally, Pacifica Partners Inc. acquired a new stake in Netflix in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 79.95% of the company’s stock.

Netflix Stock Up 1.1 %

Shares of NASDAQ:NFLX opened at $627.69 on Thursday. The firm has a 50 day simple moving average of $565.17 and a 200 day simple moving average of $480.37. Netflix, Inc. has a 52 week low of $293.54 and a 52 week high of $629.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $271.64 billion, a PE ratio of 52.26, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22.

Netflix (NASDAQ:NFLXGet Free Report) last released its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. During the same quarter in the previous year, the company earned $0.12 EPS. Netflix’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that Netflix, Inc. will post 17.01 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the transaction, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman Reed Hastings sold 25,998 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $470.51, for a total transaction of $12,232,318.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 273,767 shares of company stock worth $151,298,232. 2.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NFLX shares. KeyCorp upped their target price on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on Netflix from $566.00 to $638.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Wells Fargo & Company increased their price target on Netflix from $460.00 to $650.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. The Goldman Sachs Group upped their target price on Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Seaport Res Ptn downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $576.67.

View Our Latest Stock Analysis on NFLX

About Netflix

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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