Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Del Sette Capital Management LLC

Del Sette Capital Management LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,024 shares of the Internet television network’s stock after acquiring an additional 114 shares during the quarter. Netflix comprises approximately 1.3% of Del Sette Capital Management LLC’s holdings, making the stock its 17th largest position. Del Sette Capital Management LLC’s holdings in Netflix were worth $1,472,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. Jennison Associates LLC raised its holdings in shares of Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after buying an additional 392,427 shares during the period. Alecta Tjanstepension Omsesidigt lifted its stake in Netflix by 171.4% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock worth $231,258,000 after acquiring an additional 300,000 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Netflix during the 3rd quarter valued at about $99,219,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NFLX. Redburn Atlantic increased their price target on shares of Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Morgan Stanley raised their price target on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. The Goldman Sachs Group upped their price objective on Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their target price on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Piper Sandler boosted their target price on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Insiders have sold a total of 154,573 shares of company stock valued at $89,548,241 over the last quarter. 2.45% of the stock is currently owned by insiders.

Netflix Stock Performance

Shares of NFLX traded down $3.57 during mid-day trading on Friday, reaching $561.23. 4,332,593 shares of the company’s stock were exchanged, compared to its average volume of 4,190,527. The business’s fifty day simple moving average is $604.54 and its 200-day simple moving average is $521.57. The stock has a market capitalization of $241.83 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22. Netflix, Inc. has a 52-week low of $315.62 and a 52-week high of $639.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period last year, the firm posted $2.88 EPS. Netflix’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 18.13 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.