Hazlett Burt & Watson Inc. Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Hazlett Burt & Watson Inc. lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 36.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,021 shares of the Internet television network’s stock after buying an additional 271 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Netflix were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its stake in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares in the last quarter. First National Trust Co boosted its holdings in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares during the period. Haven Private LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $733,000. Sigma Planning Corp raised its stake in shares of Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp lifted its position in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $933.85 on Monday. The stock has a market cap of $399.46 billion, a P/E ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38. The firm’s 50-day simple moving average is $971.74 and its 200 day simple moving average is $869.42. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Analyst Ratings Changes

Several research firms recently issued reports on NFLX. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Citigroup lifted their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Arete Research raised Netflix to a “hold” rating in a report on Thursday, January 23rd. Guggenheim lifted their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Phillip Securities cut Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.02.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is owned by corporate insiders.

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.