Alliancebernstein L.P. Acquires 82,564 Shares of Netflix, Inc. (NASDAQ:NFLX)

Alliancebernstein L.P. lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 5,141,328 shares of the Internet television network’s stock after buying an additional 82,564 shares during the quarter. Netflix makes up approximately 1.6% of Alliancebernstein L.P.’s holdings, making the stock its 9th biggest holding. Alliancebernstein L.P.’s holdings in Netflix were worth $4,582,568,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC increased its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the period. Newton One Investments LLC acquired a new position in Netflix during the 4th quarter worth $34,000. Pineridge Advisors LLC grew its stake in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after purchasing an additional 16 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in Netflix in the 4th quarter valued at about $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Down 4.4 %

NASDAQ NFLX opened at $933.85 on Monday. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The firm has a 50-day moving average price of $971.74 and a 200 day moving average price of $869.42. The stock has a market capitalization of $399.46 billion, a P/E ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the business posted $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented 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. The Goldman Sachs Group increased their price objective on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Argus raised their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.02.

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.