Concord Wealth Partners Acquires Shares of 232 Netflix, Inc. (NASDAQ:NFLX)

Posted by Defense World Staff on Apr 13th, 2023

Concord Wealth Partners acquired a new stake in Netflix, Inc. (NASDAQ:NFLX – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 232 shares of the Internet television network’s stock, valued at approximately $68,000.

A number of other hedge funds also recently bought and sold shares of NFLX. Phocas Financial Corp. acquired a new stake in Netflix in the 4th quarter valued at about $29,000. Yarbrough Capital LLC acquired a new stake in Netflix in the 4th quarter valued at about $29,000. RFP Financial Group LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $37,000. Carolinas Wealth Consulting LLC grew its stake in shares of Netflix by 27.6% in the 3rd quarter. Carolinas Wealth Consulting LLC now owns 162 shares of the Internet television network’s stock valued at $38,000 after buying an additional 35 shares during the period. Finally, Paragon Wealth Strategies LLC purchased a new stake in shares of Netflix in the 3rd quarter valued at approximately $47,000. Institutional investors and hedge funds own 77.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NFLX. Jefferies Financial Group dropped their price target on shares of Netflix from $425.00 to $415.00 in a research note on Thursday, April 6th. Credit Suisse Group increased their price target on shares of Netflix from $271.00 to $291.00 and gave the company a “neutral” rating in a research note on Friday, January 20th. New Street Research began coverage on shares of Netflix in a research note on Wednesday, January 4th. They issued a “neutral” rating and a $304.00 price target for the company. Wolfe Research increased their price target on shares of Netflix from $366.00 to $417.00 and gave the company an “outperform” rating in a research note on Friday, January 20th. Finally, Moffett Nathanson increased their price target on shares of Netflix from $240.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday, January 20th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $343.26.

Insider Activity

In other news, Director Jay C. Hoag sold 3,698 shares of Netflix stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $352.94, for a total value of $1,305,172.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.39% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $331.03 on Thursday. Netflix, Inc. has a twelve month low of $162.71 and a twelve month high of $379.43. The firm’s fifty day simple moving average is $331.28 and its 200-day simple moving average is $305.02. The firm has a market capitalization of $147.42 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 1.56 and a beta of 1.27. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The Internet television network reported $0.12 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.35). Netflix had a return on equity of 23.06% and a net margin of 14.21%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.85 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. Netflix’s revenue was up 1.9% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 11.29 EPS for the current fiscal year.

Netflix Company Profile

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Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.