Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,864 shares of the Internet television network’s stock after selling 2,126 shares during the period. Riverbridge Partners LLC’s holdings in Netflix were worth $51,575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Echo45 Advisors LLC acquired a new position in Netflix during the fourth quarter worth $269,000. True North Advisors LLC boosted its position in shares of Netflix by 7.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the Internet television network’s stock valued at $364,000 after acquiring an additional 28 shares during the last quarter. Independent Wealth Network Inc. grew its holdings in shares of Netflix by 17.8% in the fourth quarter. Independent Wealth Network Inc. now owns 483 shares of the Internet television network’s stock valued at $431,000 after purchasing an additional 73 shares during the period. Wesbanco Bank Inc. increased its position in Netflix by 12.1% during the fourth quarter. Wesbanco Bank Inc. now owns 10,062 shares of the Internet television network’s stock worth $8,968,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Evolution Wealth Advisors LLC boosted its holdings in Netflix by 13.0% in the 4th quarter. Evolution Wealth Advisors LLC now owns 582 shares of the Internet television network’s stock valued at $519,000 after purchasing an additional 67 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on NFLX. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Morgan Stanley increased their price target on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday. KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $993.82.

Netflix Stock Up 9.7 %

Shares of NASDAQ NFLX opened at $953.99 on Thursday. The stock has a market capitalization of $407.79 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $889.11 and a 200 day moving average price of $763.41. Netflix, Inc. has a 52 week low of $481.40 and a 52 week high of $999.00.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 23.43 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the transaction, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is owned by corporate insiders.

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.