Patton Fund Management Inc. Has $6.41 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Patton Fund Management Inc. decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,191 shares of the Internet television network’s stock after selling 1,066 shares during the quarter. Netflix accounts for approximately 1.3% of Patton Fund Management Inc.’s holdings, making the stock its 23rd largest holding. Patton Fund Management Inc.’s holdings in Netflix were worth $6,409,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NFLX. Nvest Financial LLC raised its holdings in shares of Netflix by 9.1% in the fourth quarter. Nvest Financial LLC now owns 3,606 shares of the Internet television network’s stock valued at $3,214,000 after purchasing an additional 301 shares during the last quarter. Smith Group Asset Management LLC increased its stake in Netflix by 1.1% in the 4th quarter. Smith Group Asset Management LLC now owns 34,384 shares of the Internet television network’s stock valued at $30,647,000 after buying an additional 379 shares during the last quarter. BOCHK Asset Management Ltd bought a new stake in Netflix during the 4th quarter worth about $267,000. Verus Wealth Management LLC acquired a new position in shares of Netflix during the 4th quarter worth about $220,000. Finally, Sumitomo Life Insurance Co. grew its holdings in shares of Netflix by 1.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 13,509 shares of the Internet television network’s stock valued at $12,041,000 after acquiring an additional 223 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. Pivotal Research increased their price target on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, Evercore ISI upped their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $64,435.10. This represents a 99.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,117 shares of company stock valued at $123,913,691. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Down 0.0 %

NFLX stock opened at $971.83 on Wednesday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $999.00. The business has a 50-day simple moving average of $899.64 and a 200 day simple moving average of $772.71. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $415.42 billion, a PE ratio of 49.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during 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%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.11 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 23.72 EPS for the current fiscal 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.