Price T Rowe Associates Inc. MD Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Price T Rowe Associates Inc. MD decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,427,667 shares of the Internet television network’s stock after selling 406,408 shares during the period. Netflix accounts for about 1.2% of Price T Rowe Associates Inc. MD’s portfolio, making the stock its 13th largest position. Price T Rowe Associates Inc. MD owned 2.67% of Netflix worth $10,185,708,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NFLX. Norges Bank acquired a new stake in Netflix in the fourth quarter valued at approximately $5,019,087,000. Proficio Capital Partners LLC lifted its position in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after buying an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after purchasing an additional 743,724 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in Netflix by 112,896.4% during 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. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on NFLX. Piper Sandler initiated coverage on Netflix in a report on Thursday, April 17th. They issued an “overweight” rating and a $1,100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Rosenblatt Securities boosted their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research report on Monday. Loop Capital reiterated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Finally, Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $1,070.65.

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 274,472 shares of company stock worth $268,079,297. 1.76% of the stock is currently owned by insiders.

Netflix Price Performance

Shares of NFLX opened at $1,040.34 on Wednesday. The firm has a fifty day moving average price of $954.01 and a 200 day moving average price of $897.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1-year low of $544.25 and a 1-year high of $1,064.97. The stock has a market cap of $445.01 billion, a PE ratio of 52.46, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the previous year, the company posted $8.28 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

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.