Granite Investment Partners LLC Takes $243,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Granite Investment Partners LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 273 shares of the Internet television network's stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC raised its position in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. Newton One Investments LLC purchased a new stake in shares of Netflix during the fourth quarter worth approximately $34,000. Pineridge Advisors LLC raised its holdings in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after acquiring an additional 40 shares in the last quarter. Princeton Global Asset Management LLC lifted its stake in Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock worth $42,000 after acquiring an additional 16 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in Netflix during the 4th quarter worth approximately $43,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NASDAQ NFLX traded up $45.00 during trading on Tuesday, hitting $976.28. 7,674,299 shares of the company were exchanged, compared to its average volume of 3,710,195. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a market cap of $417.61 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 2.12 and a beta of 1.55. The firm's fifty day moving average price is $958.50 and its 200 day moving average price is $887.03.

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Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the previous year, the firm earned $2.11 earnings per share. The firm's revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at approximately $12,700,583. This represents a 88.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of the firm's stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock worth $267,919,297 in the last quarter. Company insiders own 1.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Argus lifted their price target on Netflix from $840.00 to $1,040.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Morgan Stanley increased their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on Netflix from $1,150.00 to $1,025.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Evercore ISI raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,021.31.

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.