IMG Wealth Management Inc. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

IMG Wealth Management Inc. acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 281 shares of the Internet television network’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Swedbank AB lifted its stake in shares of Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after purchasing an additional 8,024 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after purchasing an additional 198,148 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its stake in shares of Netflix by 10.4% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 519 shares of the Internet television network’s stock valued at $368,000 after purchasing an additional 49 shares during the last quarter. Schneider Downs Wealth Management Advisors LP acquired a new position in shares of Netflix in the 3rd quarter valued at $480,000. Finally, WESPAC Advisors SoCal LLC lifted its stake in shares of Netflix by 101.5% in the 3rd quarter. WESPAC Advisors SoCal LLC now owns 3,856 shares of the Internet television network’s stock valued at $2,735,000 after purchasing an additional 1,942 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent analyst reports. Pivotal Research upped their price target on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Citigroup boosted their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,014.26.

Insider Activity at Netflix

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock valued at $279,142,041 in the last three months. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Up 3.1 %

Shares of NASDAQ NFLX opened at $918.00 on Monday. The stock has a market cap of $392.68 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The business has a 50-day moving average price of $951.04 and a 200 day moving average price of $849.90.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 EPS. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current 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.