Lodestar Private Asset Management LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Lodestar Private Asset Management LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 755 shares of the Internet television network’s stock after selling 119 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in Netflix were worth $673,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp raised its position in 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 buying an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Netflix by 112,896.4% during 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 acquiring an additional 381,590 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of 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 acquiring an additional 316,594 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Piper Sandler reissued an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their target price for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Oppenheimer upped their price objective on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Pivotal Research lifted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 685 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,009.57, for a total transaction of $691,555.45. Following the sale, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,726,322.87. This represents a 15.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 647 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. Insiders sold a total of 292,270 shares of company stock worth $278,469,388 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.5 %

Shares of NFLX opened at $1,015.68 on Friday. 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 firm has a market cap of $434.47 billion, a P/E ratio of 51.22, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The company’s 50-day moving average price is $912.05 and its 200 day moving average price is $786.03. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,016.35.

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