Absolute Capital Management LLC Grows Holdings in Netflix, Inc. (NASDAQ:NFLX)

Absolute Capital Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,136 shares of the Internet television network’s stock after purchasing an additional 15 shares during the quarter. Netflix comprises 1.1% of Absolute Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Absolute Capital Management LLC’s holdings in Netflix were worth $1,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. RWQ Financial Management Services Inc. raised its position in Netflix by 65.6% in the 4th quarter. RWQ Financial Management Services Inc. now owns 2,851 shares of the Internet television network’s stock valued at $2,541,000 after purchasing an additional 1,129 shares during the last quarter. Whittier Trust Co. raised its position in Netflix by 1.1% during the 4th quarter. Whittier Trust Co. now owns 4,047 shares of the Internet television network’s stock worth $3,607,000 after buying an additional 45 shares during the last quarter. BluePointe Capital Management LLC raised its position in Netflix by 8.4% during the 4th quarter. BluePointe Capital Management LLC now owns 1,181 shares of the Internet television network’s stock worth $1,053,000 after buying an additional 92 shares during the last quarter. Certus Wealth Management LLC purchased a new position in Netflix during the 4th quarter worth $190,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Netflix during the 4th quarter worth $4,674,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $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 sold a total of 288,103 shares of company stock worth $279,142,041 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NFLX shares. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and upped their price objective for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Argus upped their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,016.78.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $950.84 on Friday. The company has a market cap of $406.73 billion, a PE ratio of 47.95, a price-to-earnings-growth 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. 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 has a 50-day simple moving average of $956.63 and a 200-day simple moving average of $854.74.

Netflix (NASDAQ:NFLX) last issued its quarterly 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. The business had revenue of $10.25 billion during 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 company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 earnings per share. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.