Occidental Asset Management LLC Buys New Position in Netflix, Inc. (NASDAQ:NFLX)

Occidental Asset Management LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 531 shares of the Internet television network’s stock, valued at approximately $259,000.

Several other hedge funds have also modified their holdings of NFLX. Columbia Trust Co 01012016 increased its holdings in shares of Netflix by 15.3% in the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after acquiring an additional 208 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of 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 acquiring an additional 392,427 shares during the last quarter. Smith Anglin Financial LLC increased its holdings in shares of Netflix by 7.7% in the 3rd quarter. Smith Anglin Financial LLC now owns 546 shares of the Internet television network’s stock valued at $206,000 after acquiring an additional 39 shares during the last quarter. Sandy Cove Advisors LLC boosted its position in Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after purchasing an additional 114 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Netflix by 21.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 147,770 shares of the Internet television network’s stock valued at $55,798,000 after purchasing an additional 26,109 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX traded down $6.20 during mid-day trading on Friday, reaching $607.33. The company had a trading volume of 3,708,803 shares, compared to its average volume of 3,000,718. Netflix, Inc. has a twelve month low of $315.62 and a twelve month high of $634.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The company’s 50-day moving average is $584.25 and its 200-day moving average is $488.53. The company has a market capitalization of $262.83 billion, a P/E ratio of 50.57, a P/E/G ratio of 1.66 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The business had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. On average, equities analysts anticipate that Netflix, Inc. will post 17.01 EPS for the current year.

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Netflix from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Bank of America boosted their target price on Netflix from $585.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Loop Capital boosted their target price on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Guggenheim boosted their target price on Netflix from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company boosted their target price on Netflix from $460.00 to $650.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $583.18.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 13,655 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,767 shares of company stock worth $151,298,232. Insiders own 2.45% of the company’s stock.

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.