Highline Wealth Partners LLC Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Highline Wealth Partners LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 710 shares of the Internet television network’s stock after acquiring an additional 17 shares during the period. Highline Wealth Partners LLC’s holdings in Netflix were worth $633,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the period. State Street Corp boosted its holdings in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Netflix in the third quarter valued at $222,871,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NFLX. Needham & Company LLC raised their price target on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. KeyCorp boosted their price objective on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Morgan Stanley upped their price objective on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group lifted their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $824.00.

Netflix Stock Performance

Shares of Netflix stock traded down $24.80 during trading on Friday, hitting $850.20. 2,497,181 shares of the stock were exchanged, compared to its average volume of 2,688,718. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s fifty day moving average is $876.43 and its 200 day moving average is $751.52. The stock has a market cap of $363.42 billion, a PE ratio of 48.12, a P/E/G ratio of 1.77 and a beta of 1.27. Netflix, Inc. has a 12 month low of $475.26 and a 12 month high of $941.75.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, sell-side analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling

In related news, Director Leslie J. Kilgore sold 358 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at $26,975,430. This trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,742 shares of company stock valued at $131,030,268. Corporate insiders own 1.76% of the company’s stock.

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.