Davis R M Inc. Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Davis R M Inc. lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 963 shares of the Internet television network’s stock after acquiring an additional 29 shares during the period. Davis R M Inc.’s holdings in Netflix were worth $859,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB increased its holdings in shares of Netflix by 1.8% during the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after buying an additional 8,024 shares during the last quarter. Principal Financial Group Inc. grew its position in Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after acquiring an additional 198,148 shares during the period. Patten & Patten Inc. TN increased its stake in Netflix by 7.0% during the third quarter. Patten & Patten Inc. TN now owns 1,932 shares of the Internet television network’s stock worth $1,370,000 after acquiring an additional 127 shares during the last quarter. Everhart Financial Group Inc. raised its position in Netflix by 17.9% in the third quarter. Everhart Financial Group Inc. now owns 3,128 shares of the Internet television network’s stock valued at $2,219,000 after purchasing an additional 475 shares during the period. Finally, Apollon Wealth Management LLC lifted its stake in shares of Netflix by 11.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 16,952 shares of the Internet television network’s stock valued at $12,023,000 after purchasing an additional 1,691 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 3.3 %

NFLX stock opened at $895.10 on Wednesday. The company’s 50 day moving average is $949.66 and its two-hundred day moving average is $845.26. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock 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.

Netflix (NASDAQ:NFLX) last announced 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 firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 earnings per share. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. This represents a 99.68 % 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 this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock valued at $279,142,041 in the last three months. 1.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NFLX. Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Guggenheim upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Bank of America lifted their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Arete Research upgraded Netflix to a “hold” rating in a research note on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,014.26.

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.