Bernard Wealth Management Corp. Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Bernard Wealth Management Corp. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 140 shares of the Internet television network’s stock, valued at approximately $125,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the last quarter. FMR LLC raised its position in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after purchasing an additional 175,596 shares in the last quarter. Norges Bank acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. Finally, Alliancebernstein L.P. increased its stake in shares of Netflix by 1.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock worth $4,582,568,000 after purchasing an additional 82,564 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI increased their target price on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Argus upped their target price on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Robert W. Baird lifted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,023.74.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Insiders sold a total of 274,312 shares of company stock valued at $267,919,297 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $867.83 on Tuesday. 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 fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The business has a 50 day moving average price of $968.16 and a two-hundred day moving average price of $878.26. The firm has a market cap of $371.22 billion, a PE ratio of 43.76, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The company 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 business posted $2.11 EPS. Sell-side analysts expect that Netflix, Inc. will post 24.58 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.