Primecap Management Co. CA Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Primecap Management Co. CA trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 157,240 shares of the Internet television network’s stock after selling 3,150 shares during the quarter. Primecap Management Co. CA’s holdings in Netflix were worth $140,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Flagship Wealth Advisors LLC purchased a new position in shares of Netflix during the 4th quarter worth $588,000. Cozad Asset Management Inc. raised its stake in shares of Netflix by 11.8% in the fourth quarter. Cozad Asset Management Inc. now owns 1,025 shares of the Internet television network’s stock worth $914,000 after buying an additional 108 shares during the period. Horizon Kinetics Asset Management LLC lifted its position in shares of Netflix by 2.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 386 shares of the Internet television network’s stock valued at $344,000 after buying an additional 11 shares in the last quarter. Curio Wealth LLC purchased a new stake in Netflix in the 4th quarter worth approximately $169,000. Finally, Cassady Schiller Wealth Management LLC raised its stake in Netflix by 54.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $66,000 after acquiring an additional 26 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX stock opened at $929.98 on Wednesday. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $953.42 and a two-hundred day simple moving average of $853.33. The stock has a market capitalization of $397.81 billion, a price-to-earnings ratio of 46.90, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 earnings per share. On average, analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,103 shares of company stock valued at $279,142,041. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NFLX. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Guggenheim increased their price target on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Evercore ISI upped their price objective on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC lifted their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

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.