Perennial Investment Advisors LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,958 shares of the Internet television network’s stock, valued at approximately $1,281,000. Netflix comprises 1.0% of Perennial Investment Advisors LLC’s portfolio, making the stock its 20th biggest position.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Winthrop Partners WNY LLC lifted its stake in Netflix by 64.9% in the 3rd quarter. Winthrop Partners WNY LLC now owns 94 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 37 shares during the last quarter. 1 North Wealth Services LLC acquired a new position in shares of Netflix during the 3rd quarter worth approximately $25,000. Fulcrum Equity Management bought a new stake in Netflix in the 3rd quarter valued at $27,000. Great Diamond Partners LLC bought a new stake in Netflix in the 4th quarter valued at $29,000. Finally, Duncker Streett & Co. Inc. acquired a new stake in Netflix during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
Shares of NASDAQ:NFLX traded down $1.00 during trading on Friday, reaching $380.40. 3,736,266 shares of the company traded hands. The company’s 50 day moving average is $344.03 and its two-hundred day moving average is $307.67. Netflix, Inc. has a 52 week low of $252.28 and a 52 week high of $385.99.
Several equities analysts have commented on the stock. Monness Crespi & Hardt upped their price objective on shares of Netflix from $350.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Robert W. Baird lifted their target price on shares of Netflix from $300.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. KeyCorp reiterated a “hold” rating on shares of Netflix in a research note on Monday, December 2nd. ValuEngine upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Finally, Rosenblatt Securities increased their price target on shares of Netflix from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $380.00.
In related news, Director Jay C. Hoag sold 1,894 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $371.75, for a total transaction of $704,094.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reed Hastings sold 54,516 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $312.04, for a total value of $17,011,172.64. Following the sale, the chief executive officer now owns 54,516 shares of the company’s stock, valued at $17,011,172.64. The disclosure for this sale can be found here. Insiders sold a total of 140,102 shares of company stock valued at $45,886,831 over the last 90 days. Corporate insiders own 4.29% of the company’s stock.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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