King Luther Capital Management Corp Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

King Luther Capital Management Corp lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,450 shares of the Internet television network’s stock after purchasing an additional 21,676 shares during the period. King Luther Capital Management Corp’s holdings in Netflix were worth $105,577,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Morling Financial Advisors LLC boosted its position in Netflix by 4.3% during the fourth quarter. Morling Financial Advisors LLC now owns 337 shares of the Internet television network’s stock worth $300,000 after acquiring an additional 14 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Netflix by 24.0% in the 4th quarter. Citizens Financial Group Inc. RI now owns 7,280 shares of the Internet television network’s stock valued at $6,489,000 after purchasing an additional 1,408 shares during the last quarter. Palisades Hudson Asset Management L.P. acquired a new position in shares of Netflix in the 4th quarter valued at $208,000. Sage Mountain Advisors LLC boosted its holdings in shares of Netflix by 16.1% in the 4th quarter. Sage Mountain Advisors LLC now owns 2,868 shares of the Internet television network’s stock valued at $2,556,000 after purchasing an additional 398 shares during the last quarter. Finally, Riverbend Wealth Management LLC acquired a new position in shares of Netflix in the 4th quarter valued at $1,265,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $978.41, for a total transaction of $9,784,100.00. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,611,311.31. This represents a 73.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock worth $279,142,041 over the last 90 days. 1.76% of the stock is owned by company insiders.

Netflix Stock Down 2.7 %

NASDAQ NFLX opened at $866.68 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company’s 50 day simple moving average is $949.59 and its 200 day simple moving average is $843.79. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a market capitalization of $370.73 billion, a P/E ratio of 43.71, a PEG ratio of 2.12 and a beta of 1.38.

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

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target on the stock in a report on Thursday, January 23rd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and raised their target price for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Pivotal Research lifted their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten research 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 stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,014.26.

Netflix 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.