Morse Asset Management Inc Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

Morse Asset Management Inc lifted its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 28.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,321 shares of the Internet television network’s stock after buying an additional 1,189 shares during the quarter. Morse Asset Management Inc’s holdings in Netflix were worth $2,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter worth about $25,000. Carmel Capital Partners LLC grew its position in shares of Netflix by 290.0% during the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. KB Financial Partners LLC grew its position in shares of Netflix by 108.5% during the second quarter. KB Financial Partners LLC now owns 98 shares of the Internet television network’s stock worth $43,000 after purchasing an additional 51 shares in the last quarter. Missouri Trust & Investment Co purchased a new stake in shares of Netflix during the second quarter worth about $44,000. Finally, Evermay Wealth Management LLC grew its position in shares of Netflix by 94.9% during the first quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network’s stock worth $40,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 79.95% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, Director Richard N. Barton sold 6,842 shares of Netflix stock in a transaction on Monday, December 11th. The stock was sold at an average price of $459.36, for a total transaction of $3,142,941.12. Following the completion of the sale, the director now directly owns 152 shares of the company’s stock, valued at approximately $69,822.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider David A. Hyman sold 19,876 shares of Netflix stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $495.00, for a total value of $9,838,620.00. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $15,646,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 6,842 shares of Netflix stock in a transaction on Monday, December 11th. The shares were sold at an average price of $459.36, for a total value of $3,142,941.12. Following the completion of the transaction, the director now owns 152 shares in the company, valued at $69,822.72. The disclosure for this sale can be found here. Insiders sold a total of 276,857 shares of company stock valued at $148,790,491 in the last ninety days. Corporate insiders own 2.45% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of several research analyst reports. Morgan Stanley increased their target price on Netflix from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Canaccord Genuity Group raised their price target on Netflix from $575.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Wedbush raised their price target on Netflix from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. UBS Group raised their price target on Netflix from $560.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Bank of America raised their price target on Netflix from $585.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $553.33.

View Our Latest Report on Netflix

Netflix Stock Down 0.8 %

NASDAQ NFLX traded down $4.91 on Friday, reaching $583.56. 2,568,852 shares of the stock traded hands, compared to its average volume of 4,337,157. 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 fifty day moving average price of $523.66 and a 200-day moving average price of $457.92. The company has a market cap of $252.54 billion, a price-to-earnings ratio of 48.59, a PEG ratio of 1.59 and a beta of 1.22. Netflix, Inc. has a 12 month low of $285.33 and a 12 month high of $597.00.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The firm had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. As a group, research analysts forecast that Netflix, Inc. will post 16.93 EPS for the current fiscal year.

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.

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