Sheets Smith Investment Management Invests $1.29 Million in Netflix, Inc. (NASDAQ:NFLX)

Sheets Smith Investment Management bought a new position in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,451 shares of the Internet television network’s stock, valued at approximately $1,293,000.

Several other large investors have also made changes to their positions in the company. Corebridge Financial Inc. grew its holdings in shares of Netflix by 1.3% in the 4th quarter. Corebridge Financial Inc. now owns 145,197 shares of the Internet television network’s stock worth $129,417,000 after purchasing an additional 1,815 shares during the last quarter. Congress Wealth Management LLC DE grew its holdings in shares of Netflix by 10.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 18,924 shares of the Internet television network’s stock worth $16,868,000 after purchasing an additional 1,771 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of Netflix in the 4th quarter worth about $351,000. FCA Corp TX bought a new stake in shares of Netflix in the 4th quarter worth about $246,000. Finally, Vanguard Group Inc. grew its holdings in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 41,121 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,103 shares of company stock worth $279,142,041. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NFLX shares. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Bank of America increased their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Citigroup increased their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Performance

Shares of NFLX opened at $960.29 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The firm’s 50 day moving average price is $959.08 and its two-hundred day moving average price is $859.06. The firm has a market cap of $410.77 billion, a P/E ratio of 48.43, a PEG ratio of 2.12 and a beta of 1.38.

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

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.