Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 24.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,811 shares of the Internet television network’s stock after buying an additional 2,099 shares during the period. Netflix makes up about 1.9% of Sierra Summit Advisors LLC’s portfolio, making the stock its 20th biggest holding. Sierra Summit Advisors LLC’s holdings in Netflix were worth $9,636,000 at the end of the most recent reporting period.

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

Netflix Trading Down 6.7 %

Netflix stock opened at $855.86 on Monday. The business’s 50-day simple moving average is $970.24 and its 200-day simple moving average is $877.11. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The firm has a market capitalization of $366.10 billion, a PE ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.55. 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 (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’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 business earned $2.11 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent research reports. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and increased their price objective for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Arete Research upgraded Netflix to a “hold” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.74.

Insider Activity

In related news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,676 shares of company stock valued at $273,515,672. 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.