Alliancebernstein L.P. Acquires 82,564 Shares of Netflix, Inc. (NASDAQ:NFLX)

Alliancebernstein L.P. raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,141,328 shares of the Internet television network's stock after purchasing an additional 82,564 shares during the quarter. Netflix makes up about 1.6% of Alliancebernstein L.P.'s portfolio, making the stock its 9th biggest holding. Alliancebernstein L.P. owned 1.20% of Netflix worth $4,582,568,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. West Michigan Advisors LLC boosted its stake in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock valued at $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. increased its holdings in Netflix by 3.5% in the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after purchasing an additional 10 shares in the last quarter. MRP Capital Investments LLC increased its holdings in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after purchasing an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC boosted its position in Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after buying an additional 10 shares during the period. Finally, Enzi Wealth grew its holdings in Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network's stock worth $316,000 after acquiring an additional 11 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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Netflix Price Performance

Shares of NASDAQ:NFLX traded down $4.15 during trading on Tuesday, reaching $928.38. 3,514,962 shares of the company's stock traded hands, compared to its average volume of 3,587,058. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a 50-day simple moving average of $973.23 and a 200-day simple moving average of $871.15. The firm has a market cap of $397.12 billion, a PE ratio of 46.82, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its 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 firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business's revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 EPS. As a group, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction dated 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 $386,876.48. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,583 shares of company stock valued at $279,611,567 over the last 90 days. Corporate insiders own 1.76% of the company's stock.

Analyst Ratings Changes

NFLX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a 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 report on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a "neutral" rating to a "buy" rating and raised their price objective for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a "hold" rating to a "buy" rating and increased their price target for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Netflix has an average rating of "Moderate Buy" and an average price target of $1,021.02.

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.