Corient Private Wealth LLC Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Corient Private Wealth LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 92.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,065 shares of the Internet television network’s stock after acquiring an additional 121,477 shares during the quarter. Corient Private Wealth LLC owned 0.06% of Netflix worth $218,463,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its stake in Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC lifted its stake 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. Wellington Management Group LLP lifted its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Netflix by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after buying an additional 45,507 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and upped their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and upped their target price for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, Evercore ISI increased their price target on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,014.26.

Insider Activity

In related news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. 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. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Up 3.1 %

Shares of NASDAQ NFLX opened at $918.00 on Friday. The stock has a fifty day moving average price of $951.04 and a 200 day moving average price of $848.74. 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 company has a market cap 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, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results 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. The company 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 company’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $2.11 earnings per share. Research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.