Atika Capital Management LLC Has $6.11 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Atika Capital Management LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,850 shares of the Internet television network's stock after selling 3,150 shares during the period. Atika Capital Management LLC's holdings in Netflix were worth $6,106,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NFLX. Principal Financial Group Inc. lifted its stake in Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock valued at $1,200,485,000 after buying an additional 198,148 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Netflix during the third quarter valued at $248,000. Weiss Asset Management LP purchased a new stake in Netflix during the 3rd quarter worth about $878,000. Kovitz Investment Group Partners LLC lifted its holdings in Netflix by 139.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 18,348 shares of the Internet television network's stock valued at $13,014,000 after purchasing an additional 10,700 shares in the last quarter. Finally, Castleark Management LLC boosted its stake in shares of Netflix by 46.3% during the 3rd quarter. Castleark Management LLC now owns 44,648 shares of the Internet television network's stock worth $31,667,000 after purchasing an additional 14,138 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NFLX stock traded down $6.63 during mid-day trading on Wednesday, reaching $863.77. The stock had a trading volume of 1,839,113 shares, compared to its average volume of 3,644,560. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The firm has a market cap of $369.48 billion, a PE ratio of 43.47, a P/E/G ratio of 2.12 and a beta of 1.55. The firm's 50 day simple moving average is $963.96 and its 200 day simple moving average is $879.39. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Remove Ads

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.11 earnings per share. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 617 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Insiders sold a total of 274,312 shares of company stock worth $267,919,297 over the last quarter. Company insiders own 1.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on NFLX shares. Rosenblatt Securities upgraded Netflix from a "neutral" rating to a "buy" rating and lifted their price target for the company from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Arete Research raised shares of Netflix to a "hold" rating in a research report on Thursday, January 23rd. Piper Sandler reissued an "overweight" rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. BMO Capital Markets reiterated an "outperform" rating and issued a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, KeyCorp decreased their target price on shares of Netflix from $1,100.00 to $1,000.00 and set an "overweight" rating for the company in a research note on Wednesday. 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 stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average price target of $1,017.31.

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.