Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Lifted by Summit X LLC

Summit X LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 710 shares of the Internet television network’s stock after acquiring 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.

Several other institutional investors also recently modified their holdings of NFLX. Proficio Capital Partners LLC increased its holdings in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after buying an additional 1,924,423 shares in the last quarter. State Street Corp increased its holdings in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after buying an additional 381,590 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Netflix in the third quarter valued at $222,871,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 41,121 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the sale, the chairman now directly owns 394 shares in the company, valued at $386,876.48. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock valued at $279,142,041 over the last quarter. 1.76% of the stock is owned by company insiders.

Netflix Stock Up 3.3 %

Netflix stock opened at $895.10 on Wednesday. The firm has a fifty day moving average price of $949.66 and a two-hundred day moving average price of $845.26. The firm has a market cap of $382.89 billion, a price-to-earnings ratio of 45.14, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 earnings per share. As a group, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of several research analyst reports. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Evercore ISI lifted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Ten investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,014.26.

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.