Rialto Wealth Management LLC Purchases Shares of 70 Netflix, Inc. (NASDAQ:NFLX)

Rialto Wealth Management LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 70 shares of the Internet television network’s stock, valued at approximately $62,000.

Other large investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in Netflix during the third quarter valued at about $25,000. Pathway Financial Advisers LLC grew its holdings in shares of 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. Newton One Investments LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $34,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix in the third quarter valued at $37,000. Finally, Pineridge Advisors LLC lifted its position in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $891.11 on Monday. The firm’s 50 day moving average price is $950.26 and its two-hundred day moving average price is $842.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The stock has a market cap of $381.18 billion, a PE ratio of 44.94, a PEG ratio of 2.12 and a beta of 1.38.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on NFLX shares. Argus boosted their price target 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. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and increased their price target for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Guggenheim upped their price objective on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC raised their target price on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the completion of the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. 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 ninety days. 1.76% of the stock is owned by insiders.

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.