Moss Adams Wealth Advisors LLC Buys New Shares in Netflix, Inc. (NASDAQ:NFLX)

Moss Adams Wealth Advisors LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 517 shares of the Internet television network’s stock, valued at approximately $252,000.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares during the period. Jennison Associates LLC boosted its position in Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Assenagon Asset Management S.A. increased its holdings in Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after purchasing an additional 392,427 shares in the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in Netflix by 171.4% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock valued at $231,258,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Netflix in the third quarter valued at about $99,219,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock traded up $3.47 during midday trading on Wednesday, hitting $609.47. The company’s stock had a trading volume of 3,092,564 shares, compared to its average volume of 4,404,261. Netflix, Inc. has a 12 month low of $329.51 and a 12 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 stock’s 50-day moving average price is $602.85 and its 200-day moving average price is $531.62. The company has a market capitalization of $262.66 billion, a PE ratio of 42.29, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.88 earnings per share. Analysts anticipate that Netflix, Inc. will post 18.3 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 8,866 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $562.85, for a total value of $4,990,228.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares in the company, valued at $717,379.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 8,866 shares of Netflix stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $562.85, for a total value of $4,990,228.10. The disclosure for this sale can be found here. Insiders have sold 155,298 shares of company stock valued at $89,753,167 over the last three months. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Canaccord Genuity Group downgraded Netflix from a “buy” rating to a “hold” rating and dropped their target price for the company from $720.00 to $585.00 in a report on Friday, April 19th. CICC Research began coverage on shares of Netflix in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 target price for the company. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. The Goldman Sachs Group upped their price objective on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $631.15.

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.