Canvas Wealth Advisors LLC Purchases 66 Shares of Netflix, Inc. (NASDAQ:NFLX)

Canvas Wealth Advisors LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 566 shares of the Internet television network’s stock after purchasing an additional 66 shares during the period. Canvas Wealth Advisors LLC’s holdings in Netflix were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in Netflix in the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC purchased a new position in shares of Netflix during the fourth quarter worth about $34,000. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix in the third quarter worth approximately $37,000. Finally, FSA Wealth Management LLC purchased a new stake in Netflix in the third quarter valued at approximately $38,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NFLX shares. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Bank of America upped their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Pivotal Research increased their price objective on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling at Netflix

In related news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,870 shares of company stock worth $285,287,314. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,013.93 on Monday. The company has a market capitalization of $433.72 billion, a price-to-earnings ratio of 51.13, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. 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 one year low of $542.01 and a one year high of $1,027.76. The company’s 50-day moving average is $917.36 and its 200 day moving average is $791.20.

Netflix (NASDAQ:NFLX) last posted its quarterly 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. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.11 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.