Sherman Asset Management Inc. Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Sherman Asset Management Inc. purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, HoldingsChannel reports. The fund purchased 249 shares of the Internet television network’s stock, valued at approximately $222,000.

Several other institutional investors have also recently bought and sold shares of the business. West Michigan Advisors LLC raised its holdings in Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after buying an additional 10 shares during the last quarter. Enzi Wealth raised its holdings in Netflix by 3.4% during the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after buying an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. raised its holdings in Netflix by 1.6% during the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock worth $624,000 after buying an additional 11 shares during the last quarter. Blossom Wealth Management raised its holdings in Netflix by 0.9% during the fourth quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock worth $1,112,000 after buying an additional 11 shares during the last quarter. Finally, Everett Harris & Co. CA raised its holdings in Netflix by 1.3% during the fourth quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock worth $775,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NFLX. The Goldman Sachs Group upped their price objective on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective on the stock in a report on Thursday, January 23rd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. 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 research note on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft upped 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, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Price Performance

NASDAQ NFLX opened at $980.56 on Friday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a market cap of $419.44 billion, a PE ratio of 49.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $947.72 and its two-hundred day simple moving average is $832.09.

Netflix (NASDAQ:NFLX) last announced its quarterly 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 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 the consensus estimate of $10.14 billion. During the same period in the prior year, the firm posted $2.11 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 2,682 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,380 shares of company stock valued at $290,016,164. 1.76% of the stock is currently owned by corporate insiders.

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.