Towercrest Capital Management Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Towercrest Capital Management acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 238 shares of the Internet television network’s stock, valued at approximately $212,000.

Several other hedge funds also recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the 3rd quarter worth $25,000. Pathway Financial Advisers LLC raised its stake in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Newton One Investments LLC bought a new stake in shares of Netflix during the fourth quarter valued at about $34,000. Pineridge Advisors LLC increased its position in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in shares of Netflix during the third quarter valued at about $38,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction that occurred on Monday, February 3rd. The shares were 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. In the last three months, insiders sold 288,103 shares of company stock worth $279,142,041. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NFLX shares. Loop Capital upped their target price on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Arete Research raised Netflix to a “hold” rating in a research report on Thursday, January 23rd. Guggenheim raised their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Wedbush reissued an “outperform” rating and set a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Stock Performance

NFLX opened at $960.29 on Monday. The stock has a market cap of $410.77 billion, a P/E ratio of 48.43, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $959.08 and its 200 day simple moving average is $859.06. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating 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 firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the firm earned $2.11 EPS. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.