Revolve Wealth Partners LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 16.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,023 shares of the Internet television network’s stock after purchasing an additional 144 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Netflix were worth $912,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its holdings in Netflix by 2.6% in 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 acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. International Assets Investment Management LLC boosted 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 buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Netflix by 0.5% during the third 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 buying an additional 23,702 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.
Insider Activity
In related news, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $64,435.10. This trade represents a 99.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,117 shares of company stock worth $123,913,691. Insiders own 1.76% of the company’s stock.
Netflix Price Performance
Netflix (NASDAQ:NFLX – Get Free Report) last posted 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 firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.11 EPS. Research analysts predict that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $975.00 to $1,200.00 in a report on Friday. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and upped their price target for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective 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. Argus upped their target price on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.
View Our Latest Stock Report on Netflix
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.
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