Ithaka Group LLC Sells 1,231 Shares of Netflix, Inc. (NASDAQ:NFLX)

Ithaka Group LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,914 shares of the Internet television network’s stock after selling 1,231 shares during the quarter. Netflix makes up approximately 3.6% of Ithaka Group LLC’s investment portfolio, making the stock its 11th largest position. Ithaka Group LLC’s holdings in Netflix were worth $19,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NFLX. Swedbank AB lifted its stake in Netflix by 1.8% during the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after acquiring an additional 8,024 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after buying an additional 198,148 shares in the last quarter. Savvy Advisors Inc. grew its holdings in Netflix by 43.5% during the 3rd quarter. Savvy Advisors Inc. now owns 953 shares of the Internet television network’s stock valued at $676,000 after buying an additional 289 shares in the last quarter. Live Oak Investment Partners grew its holdings in Netflix by 1.5% during the 3rd quarter. Live Oak Investment Partners now owns 3,270 shares of the Internet television network’s stock valued at $2,319,000 after buying an additional 49 shares in the last quarter. Finally, Future Fund LLC lifted its position in Netflix by 16.4% in the 3rd quarter. Future Fund LLC now owns 2,258 shares of the Internet television network’s stock worth $1,707,000 after buying an additional 318 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $1,100.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and increased their target price for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Robert W. Baird upped their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. KeyCorp increased their target price on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $1,014.26.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock worth $279,142,041 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Netflix Trading Up 2.7 %

NFLX stock opened at $919.68 on Thursday. The company has a market cap of $393.40 billion, a P/E ratio of 46.38, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. 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 business has a fifty day moving average of $950.23 and a 200-day moving average of $845.78.

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

Netflix 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.