Price T Rowe Associates Inc. MD Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Price T Rowe Associates Inc. MD reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,427,667 shares of the Internet television network's stock after selling 406,408 shares during the quarter. Netflix comprises about 1.2% of Price T Rowe Associates Inc. MD's portfolio, making the stock its 13th largest holding. Price T Rowe Associates Inc. MD owned about 2.67% of Netflix worth $10,185,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NFLX. Norges Bank purchased a new stake in shares of Netflix during the fourth quarter valued at $5,019,087,000. Proficio Capital Partners LLC lifted its position in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after purchasing an additional 743,724 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in shares of Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network's stock worth $340,420,000 after purchasing an additional 381,590 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ:NFLX traded up $4.66 during midday trading on Friday, hitting $1,101.53. The company had a trading volume of 3,944,668 shares, compared to its average volume of 3,711,156. Netflix, Inc. has a twelve month low of $544.25 and a twelve month high of $1,105.89. The stock has a market cap of $471.19 billion, a price-to-earnings ratio of 55.55, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business's 50-day simple moving average is $954.61 and its 200-day simple moving average is $901.03.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 EPS. On average, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NFLX. FBN Securities assumed coverage on shares of Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target on the stock. Loop Capital reissued a "hold" rating on shares of Netflix in a report on Monday, March 24th. Piper Sandler set a $1,150.00 price target on shares of Netflix in a report on Monday. Wolfe Research upgraded Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price objective for the company in a research note on Thursday, January 23rd. Finally, StockNews.com cut Netflix from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Ten 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. According to data from MarketBeat, Netflix has an average rating of "Moderate Buy" and an average price target of $1,072.12.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 2,682 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Strive Masiyiwa sold 2,813 shares of the business'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 sold 273,855 shares of company stock worth $267,474,816 in the last 90 days. Insiders own 1.76% of the company's stock.

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.