Los Angeles Capital Management LLC Purchases 231,793 Shares of Netflix, Inc. (NASDAQ:NFLX)

Los Angeles Capital Management LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 238.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 329,133 shares of the Internet television network’s stock after buying an additional 231,793 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Netflix were worth $160,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC grew its position in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Netflix by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Netflix by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after purchasing an additional 78,298 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Netflix by 5.3% during the 3rd quarter. Clearbridge Investments LLC now owns 2,783,694 shares of the Internet television network’s stock worth $1,051,123,000 after purchasing an additional 139,165 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Netflix by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,393,628 shares of the Internet television network’s stock worth $903,834,000 after purchasing an additional 14,364 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 in the company, valued at $717,379.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,839 shares of company stock valued at $77,788,745. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Netflix stock traded up $11.63 during midday trading on Thursday, hitting $563.34. 1,330,408 shares of the company were exchanged, compared to its average volume of 4,429,204. The firm has a market capitalization of $242.74 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. Netflix, Inc. has a fifty-two week low of $315.85 and a fifty-two week high of $639.00. The business has a fifty day simple moving average of $603.12 and a two-hundred day simple moving average of $524.53. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

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

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. Barclays upped their price objective on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Sanford C. Bernstein increased their price target on Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research note on Friday, April 19th. Finally, Needham & Company LLC upgraded Netflix from a “hold” rating to a “buy” rating and set a $700.00 price target for the company in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $631.15.

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.