6,313 Shares in Netflix, Inc. (NASDAQ:NFLX) Purchased by Reliant Investment Management LLC

Reliant Investment Management LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, Holdings Channel.com reports. The fund acquired 6,313 shares of the Internet television network’s stock, valued at approximately $5,627,000. Netflix accounts for approximately 2.5% of Reliant Investment Management LLC’s holdings, making the stock its 18th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC lifted its holdings in Netflix by 4.5% during the 4th quarter. Ballentine Partners LLC now owns 6,633 shares of the Internet television network’s stock worth $5,912,000 after purchasing an additional 287 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in Netflix by 39.4% during the 4th quarter. Pure Financial Advisors LLC now owns 1,919 shares of the Internet television network’s stock worth $1,710,000 after purchasing an additional 542 shares in the last quarter. Tudor Financial Inc. purchased a new stake in Netflix during the 4th quarter worth about $245,000. Koshinski Asset Management Inc. lifted its holdings in Netflix by 16.3% during the 4th quarter. Koshinski Asset Management Inc. now owns 2,124 shares of the Internet television network’s stock worth $1,893,000 after purchasing an additional 298 shares in the last quarter. Finally, Sky Investment Group LLC purchased a new stake in Netflix during the 4th quarter worth about $240,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total transaction of $980,289.90. Following the transaction, the chief executive officer now owns 2,556 shares in the company, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 5,698 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at $185,976. This represents a 95.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Pivotal Research upped their target price on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein upped their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, TD Cowen upped their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.06.

Netflix Stock Performance

Shares of NFLX stock opened at $858.10 on Tuesday. The firm has a market capitalization of $366.80 billion, a price-to-earnings ratio of 48.56, a PEG ratio of 1.40 and a beta of 1.27. The stock has a fifty day moving average of $884.58 and a 200 day moving average of $759.58. Netflix, Inc. has a 52 week low of $476.06 and a 52 week high of $941.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

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.