Proficio Capital Partners LLC Has $1.72 Billion Position in Netflix, Inc. (NASDAQ:NFLX)

Proficio Capital Partners LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 123,836.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,925,977 shares of the Internet television network’s stock after buying an additional 1,924,423 shares during the quarter. Netflix accounts for about 1.0% of Proficio Capital Partners LLC’s portfolio, making the stock its 21st largest holding. Proficio Capital Partners LLC owned about 0.45% of Netflix worth $1,716,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the 3rd quarter worth approximately $25,000. Newton One Investments LLC acquired a new position in Netflix during the 4th quarter worth approximately $34,000. Pineridge Advisors LLC grew its holdings in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after acquiring an additional 16 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NFLX. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. KeyCorp upped their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and increased their target price for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Evercore ISI increased their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Robert W. Baird increased their target price on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Activity

In related news, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by company insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $990.06 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $423.51 billion, a PE ratio of 49.93, a P/E/G ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a 50-day moving average price of $945.07 and a two-hundred day moving average price of $827.46.

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

Netflix 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.