Magnolia Capital Advisors LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Magnolia Capital Advisors LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, HoldingsChannel.com reports. The fund bought 630 shares of the Internet television network’s stock, valued at approximately $307,000.

A number of other hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC grew its stake in Netflix by 15,039.1% in 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 purchasing an additional 2,061,859 shares in the last quarter. Jennison Associates LLC grew its stake in Netflix by 40.6% in the fourth 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 in the last quarter. Assenagon Asset Management S.A. grew its stake in Netflix by 142.6% in the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in Netflix by 171.4% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock worth $231,258,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Netflix in the third quarter worth approximately $99,219,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wedbush restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Friday, April 19th. JPMorgan Chase & Co. upped their target price on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Pivotal Research upped their target price on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Morgan Stanley upped their target price on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $630.58.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a filing with the SEC, which is available at this link. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,106 shares of company stock valued at $92,729,716. Corporate insiders own 2.45% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX traded down $22.63 during mid-day trading on Wednesday, reaching $555.12. The stock had a trading volume of 5,303,842 shares, compared to its average volume of 4,527,938. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The firm has a market capitalization of $239.20 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.41 and a beta of 1.22. Netflix, Inc. has a twelve month low of $315.62 and a twelve month high of $639.00. The business has a 50 day simple moving average of $605.56 and a 200 day simple moving average of $517.91.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. On average, analysts expect that Netflix, Inc. will post 17.87 earnings per share for the current fiscal year.

About Netflix

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.