Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Summit X LLC

Summit X LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 710 shares of the Internet television network’s stock after purchasing an additional 38 shares during the period. Summit X LLC’s holdings in Netflix were worth $632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the last quarter. Haven Private LLC acquired a new position in Netflix during the fourth quarter worth approximately $733,000. Charles Schwab Investment Management Inc. increased its position in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the last quarter. Sigma Planning Corp increased its position in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. The trade was a 88.76 % 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 Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent research reports. Bank of America increased their price objective 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. UBS Group reissued a “buy” rating on shares of Netflix in a research report on Monday. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Robert W. Baird increased their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Oppenheimer increased their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,014.26.

Netflix Stock Performance

Shares of NFLX stock opened at $895.10 on Wednesday. The business has a 50 day moving average of $949.66 and a two-hundred day moving average of $845.26. The company has a market cap of $382.89 billion, a P/E ratio of 45.14, a PEG ratio of 2.12 and a beta of 1.38. 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, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for 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%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company 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.