Forte Capital LLC ADV Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Forte Capital LLC ADV grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,034 shares of the Internet television network’s stock after purchasing an additional 30 shares during the quarter. Forte Capital LLC ADV’s holdings in Netflix were worth $990,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter valued at about $25,000. Spartan Planning & Wealth Management purchased a new position in shares of Netflix in the 3rd quarter valued at approximately $26,000. Carmel Capital Partners LLC increased its holdings in shares of Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 58 shares during the period. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Netflix by 89.7% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after purchasing an additional 35 shares during the period. Finally, Pacifica Partners Inc. purchased a new position in Netflix in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $15,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $566.35, for a total transaction of $723,795.30. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $7,413,521.50. The disclosure for this sale can be found here. Insiders sold a total of 152,833 shares of company stock worth $88,270,051 over the last 90 days. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NFLX. Jefferies Financial Group lifted their target price on shares of Netflix from $580.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 12th. BMO Capital Markets reiterated an “outperform” rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a research report on Wednesday, April 17th. Bank of America lifted their price target on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Guggenheim increased their price objective on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $585.00 target price (down from $720.00) on shares of Netflix in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $631.15.

Netflix Stock Up 2.5 %

Shares of NFLX traded up $14.19 during trading on Friday, reaching $579.34. The company’s stock had a trading volume of 3,307,524 shares, compared to its average volume of 4,520,712. Netflix, Inc. has a twelve month low of $317.95 and a twelve month high of $639.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $249.67 billion, a price-to-earnings ratio of 40.20, a P/E/G ratio of 1.37 and a beta of 1.23. The company has a fifty day moving average of $602.57 and a two-hundred day moving average of $526.33.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the prior year, the business posted $2.88 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that Netflix, Inc. will post 18.3 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.