Cumberland Partners Ltd Has $3.44 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Cumberland Partners Ltd lowered its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 33.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,857 shares of the Internet television network's stock after selling 1,923 shares during the quarter. Cumberland Partners Ltd's holdings in Netflix were worth $3,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock valued at $760,918,000 after buying an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network's stock valued at $1,829,494,000 after acquiring an additional 29,726 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network's stock valued at $434,398,000 after acquiring an additional 11,921 shares in the last quarter. M&T Bank Corp boosted its position in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock worth $29,751,000 after purchasing an additional 1,684 shares during the period. Finally, Quilter Plc increased its holdings in Netflix by 8.2% in the 4th quarter. Quilter Plc now owns 143,757 shares of the Internet television network's stock valued at $128,133,000 after purchasing an additional 10,946 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was 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. In the last 90 days, insiders have sold 303,220 shares of company stock valued at $289,856,164. Corporate insiders own 1.76% of the company's stock.

Netflix Price Performance

Netflix stock traded down $23.75 during trading hours on Friday, hitting $1,000.79. 2,695,651 shares of the company traded hands, compared to its average volume of 4,103,394. The firm's 50-day simple moving average is $938.86 and its two-hundred day simple moving average is $815.63. The firm has a market cap of $428.10 billion, a P/E ratio of 50.61, a P/E/G ratio of 2.16 and a beta of 1.27. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. 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 (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts' consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned $2.11 earnings per share. As a group, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent research reports. Evercore ISI increased their target price on Netflix from $950.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. Piper Sandler reiterated an "overweight" rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Robert W. Baird boosted their target price on shares of Netflix from $875.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. Bank of America raised their price target 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. Finally, Wedbush reaffirmed an "outperform" rating and set a $1,150.00 target price (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,021.70.

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.