Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 40.3% during the fourth quarter, Holdings Channel reports. The fund owned 33,650 shares of the Internet television network’s stock after acquiring an additional 9,671 shares during the quarter. Intech Investment Management LLC’s holdings in Netflix were worth $16,384,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Johnson Financial Group Inc. raised its stake in Netflix by 307.5% during the fourth quarter. Johnson Financial Group Inc. now owns 1,630 shares of the Internet television network’s stock worth $794,000 after purchasing an additional 1,230 shares during the period. Founders Financial Alliance LLC raised its stake in shares of Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after acquiring an additional 18 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Netflix by 12.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 164,854 shares of the Internet television network’s stock valued at $80,264,000 after acquiring an additional 18,142 shares during the period. Skopos Labs Inc. purchased a new position in shares of Netflix in the 4th quarter valued at $1,410,000. Finally, Congress Wealth Management LLC DE raised its stake in shares of Netflix by 53.5% in the 4th quarter. Congress Wealth Management LLC DE now owns 4,347 shares of the Internet television network’s stock valued at $2,117,000 after acquiring an additional 1,516 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Netflix from $640.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Piper Sandler lifted their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Guggenheim lifted their price target on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. TD Cowen lifted their price target on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Benchmark lifted their price target on shares of Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $630.53.

Netflix Price Performance

Shares of NFLX stock traded up $11.08 during midday trading on Friday, reaching $646.75. 2,615,260 shares of the company were exchanged, compared to its average volume of 3,191,080. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $652.00. The company has a market cap of $278.75 billion, a P/E ratio of 44.88, a PEG ratio of 1.37 and a beta of 1.23. The company’s 50 day moving average price is $607.60 and its two-hundred day moving average price is $549.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the firm earned $2.88 EPS. Netflix’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider David A. Hyman sold 268 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,039 shares of company stock worth $46,401,083. 1.76% of the stock is 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.