Asset Advisors Investment Management LLC Takes $3.67 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Asset Advisors Investment Management LLC purchased a new position in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,118 shares of the Internet television network’s stock, valued at approximately $3,670,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. State Street Corp boosted its position in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Netflix by 112,896.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after purchasing an additional 381,590 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Netflix in the 3rd quarter worth $222,871,000. Finally, AustralianSuper Pty Ltd grew its stake in Netflix by 12,243.4% during the 3rd quarter. AustralianSuper Pty Ltd now owns 290,071 shares of the Internet television network’s stock worth $205,739,000 after buying an additional 287,721 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,003.15 on Monday. The stock’s 50-day moving average is $940.55 and its two-hundred day moving average is $821.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $429.10 billion, a price-to-earnings ratio of 50.59, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the company earned $2.11 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on NFLX. Macquarie increased their price target on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a research report on Thursday, January 23rd. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and upped their price target for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Piper Sandler reiterated an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Citigroup upped their target price on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Transactions at Netflix

In other Netflix news, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. This represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 303,220 shares of company stock valued at $289,856,164. 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.