Breakwater Capital Group Boosts Position in Netflix, Inc. (NASDAQ:NFLX)

Breakwater Capital Group grew its position in Netflix, Inc. (NASDAQ:NFLX) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 547 shares of the Internet television network’s stock after buying an additional 38 shares during the quarter. Breakwater Capital Group’s holdings in Netflix were worth $488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NFLX. State Street Corp grew its holdings in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC increased its position in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Down 1.4 %

Shares of NFLX opened at $828.40 on Wednesday. Netflix, Inc. has a one year low of $475.26 and a one year high of $941.75. The stock has a 50-day moving average price of $881.04 and a 200 day moving average price of $755.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $354.11 billion, a P/E ratio of 46.88, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total transaction of $980,289.90. Following the sale, the chief executive officer now owns 2,556 shares in the company, valued at $1,960,579.80. This represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 4,186 shares of Netflix stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. The trade was a 24.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock valued at $131,030,268 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NFLX. Piper Sandler raised their price target on shares of Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup raised their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Canaccord Genuity Group boosted their price target on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Oppenheimer raised their price objective on Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $950.00 target price (up from $800.00) on shares of Netflix in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $841.27.

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.