Austin Asset Management Co Inc Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Austin Asset Management Co Inc raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 392 shares of the Internet television network’s stock after buying an additional 26 shares during the quarter. Austin Asset Management Co Inc’s holdings in Netflix were worth $350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. International Assets Investment Management LLC grew its stake in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp increased its holdings in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Strategic Financial Concepts LLC raised its position in shares of Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after buying an additional 381,590 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in 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 buying an additional 316,594 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of Netflix stock opened at $1,013.93 on Friday. The business has a 50 day moving average of $914.82 and a 200 day moving average of $787.62. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,027.76. The company has a market cap of $433.72 billion, a PE ratio of 51.13, a P/E/G ratio of 2.11 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.

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

Insiders Place Their Bets

In other news, CAO Jeffrey William Karbowski sold 160 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. Insiders sold 299,517 shares of company stock worth $285,805,037 over the last three months. Company insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Finally, Citigroup upped 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. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.