Netflix, Inc. (NASDAQ:NFLX) is Varenne Capital Partners’ 5th Largest Position

Varenne Capital Partners decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 38.3% in the fourth quarter, Holdings Channel reports. The firm owned 42,141 shares of the Internet television network’s stock after selling 26,122 shares during the period. Netflix comprises about 11.1% of Varenne Capital Partners’ portfolio, making the stock its 5th largest position. Varenne Capital Partners’ holdings in Netflix were worth $37,561,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC grew its stake in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Newton One Investments LLC acquired a new position in Netflix during the 4th quarter valued at approximately $34,000. Pineridge Advisors LLC raised its holdings in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Netflix during the fourth quarter valued at $43,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

NFLX opened at $933.85 on Friday. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The firm has a market capitalization of $399.46 billion, a PE ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38. 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 firm’s 50-day moving average price is $971.74 and its 200 day moving average price is $868.10.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the firm posted $2.11 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NFLX shares. Moffett Nathanson upgraded Netflix from a “neutral” rating to a “buy” rating and raised their target price for the stock from $850.00 to $1,100.00 in a research note on Monday, March 17th. Macquarie raised their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Evercore ISI upped their target price on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research report on Thursday, January 23rd. Finally, Guggenheim upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.02.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,583 shares of company stock worth $279,611,567 in the last quarter. Company insiders own 1.76% of the company’s stock.

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.