Geneva Partners LLC Raises Position in Netflix, Inc. (NASDAQ:NFLX)

Geneva Partners LLC boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,455 shares of the Internet television network’s stock after acquiring an additional 233 shares during the period. Netflix accounts for 2.0% of Geneva Partners LLC’s portfolio, making the stock its 18th largest holding. Geneva Partners LLC’s holdings in Netflix were worth $4,862,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC acquired a new position in shares of Netflix during the fourth quarter valued at about $34,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix in the third quarter worth $37,000. Finally, FSA Wealth Management LLC acquired a new position in Netflix in the 3rd quarter worth approximately $38,000. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on NFLX. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. upped their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Loop Capital boosted their price target on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned 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 an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 291,585 shares of company stock worth $277,777,833. 1.76% of the stock is owned by corporate insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,011.11 on Thursday. 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, Inc. has a 52 week low of $542.01 and a 52 week high of $1,011.83. The company has a market cap of $432.51 billion, a P/E ratio of 50.99, a PEG ratio of 2.02 and a beta of 1.27. The company has a 50-day moving average price of $912.05 and a 200 day moving average price of $786.03.

Netflix (NASDAQ:NFLX) last announced 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. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.11 earnings per share. Research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.