SP Asset Management LLC Has $2.64 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

SP Asset Management LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,960 shares of the Internet television network’s stock after selling 37 shares during the quarter. SP Asset Management LLC’s holdings in Netflix were worth $2,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Proficio Capital Partners LLC increased its position in Netflix by 123,836.7% in the 4th 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 buying an additional 1,924,423 shares in the last quarter. State Street Corp increased its position 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 buying an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC increased its position in Netflix by 112,896.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after buying an additional 381,590 shares in the last quarter. Jennison Associates LLC increased its position in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix in the 3rd quarter valued at about $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total value of $2,554,312.05. Following the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,624,746.55. This trade represents a 41.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the sale, the chairman now owns 394 shares in the company, valued at $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock worth $279,142,041 in the last ninety days. 1.76% of the stock is owned by corporate insiders.

Netflix Price Performance

Netflix stock opened at $990.92 on Thursday. The firm has a market cap of $423.87 billion, a PE ratio of 49.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 52-week low of $542.01 and a 52-week 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 company’s 50 day moving average is $950.95 and its two-hundred day moving average is $838.65.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on NFLX. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and boosted their target price for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. BMO Capital Markets reissued an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Guggenheim boosted their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.