HM Payson & Co. Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

HM Payson & Co. raised its position in Netflix, Inc. (NASDAQ:NFLX) by 36.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,129 shares of the Internet television network’s stock after buying an additional 572 shares during the quarter. HM Payson & Co.’s holdings in Netflix were worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the third quarter worth $25,000. Pathway Financial Advisers LLC boosted its stake in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Newton One Investments LLC acquired a new stake in shares of Netflix during the fourth quarter valued at $34,000. MidAtlantic Capital Management Inc. purchased a new position in Netflix during the third quarter worth about $37,000. Finally, Pineridge Advisors LLC lifted its position in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NFLX shares. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Robert W. Baird lifted their target price on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten 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, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Activity

In related news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,103 shares of company stock worth $279,142,041. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 1.7 %

Shares of NFLX opened at $891.11 on Friday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The firm has a market capitalization of $381.18 billion, a price-to-earnings ratio of 44.94, a P/E/G ratio of 2.12 and a beta of 1.38. The stock’s 50-day moving average price is $950.26 and its 200 day moving average price is $841.52. 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 released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the company posted $2.11 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict 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.