Provence Wealth Management Group Has $431,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Provence Wealth Management Group lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 885 shares of the Internet television network’s stock after acquiring an additional 119 shares during the quarter. Provence Wealth Management Group’s holdings in Netflix were worth $431,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Authentikos Wealth Advisory LLC bought a new position in shares of Netflix in the 3rd quarter valued at about $25,000. Spartan Planning & Wealth Management acquired a new stake in Netflix during the 3rd quarter worth $26,000. Carmel Capital Partners LLC lifted its holdings in Netflix by 290.0% during the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its stake in Netflix by 89.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock valued at $36,000 after acquiring an additional 35 shares during the period. Finally, Pacifica Partners Inc. bought a new stake in shares of Netflix in the fourth quarter worth about $41,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Anne M. Sweeney sold 633 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold 152,833 shares of company stock valued at $88,270,051 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Up 2.5 %

Shares of NFLX stock traded up $14.19 on Friday, hitting $579.34. The stock had a trading volume of 3,307,524 shares, compared to its average volume of 4,520,712. Netflix, Inc. has a 12-month low of $317.95 and a 12-month high of $639.00. The business has a 50 day moving average of $602.57 and a 200 day moving average of $526.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $249.67 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.88 earnings per share. As a group, analysts expect that Netflix, Inc. will post 18.3 EPS for the current year.

Analysts Set New Price Targets

NFLX has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. UBS Group boosted their price objective on shares of Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Evercore ISI raised their price target on shares of Netflix from $640.00 to $650.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Barclays increased their price objective on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Morgan Stanley increased their price target on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $631.15.

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.