Sovereign Investment Advisors LLC Purchases Shares of 244 Netflix, Inc. (NASDAQ:NFLX)

Sovereign Investment Advisors LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, HoldingsChannel reports. The firm purchased 244 shares of the Internet television network’s stock, valued at approximately $217,000.

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB boosted its holdings in shares of Netflix by 1.8% during the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after purchasing an additional 8,024 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after purchasing an additional 198,148 shares during the period. Curi RMB Capital LLC boosted its holdings in shares of Netflix by 7.8% during the third quarter. Curi RMB Capital LLC now owns 1,045 shares of the Internet television network’s stock worth $741,000 after purchasing an additional 76 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in shares of Netflix by 4.7% during the third quarter. OneDigital Investment Advisors LLC now owns 6,163 shares of the Internet television network’s stock worth $4,371,000 after purchasing an additional 279 shares during the period. Finally, Dearborn Partners LLC boosted its holdings in shares of Netflix by 19.4% during the third quarter. Dearborn Partners LLC now owns 1,041 shares of the Internet television network’s stock worth $738,000 after purchasing an additional 169 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NFLX. Morgan Stanley increased their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Pivotal Research increased their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Evercore ISI increased their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price target 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. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,014.26.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is owned by insiders.

Netflix Trading Up 3.1 %

Shares of NFLX stock opened at $918.00 on Friday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $951.04 and its 200 day moving average is $848.74. The stock has a market capitalization of $392.68 billion, a P/E ratio of 46.29, a P/E/G ratio of 2.12 and a beta of 1.38.

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

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.