Sierra Summit Advisors LLC Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sierra Summit Advisors LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,811 shares of the Internet television network's stock after buying an additional 2,099 shares during the period. Netflix comprises about 1.9% of Sierra Summit Advisors LLC's holdings, making the stock its 20th largest position. Sierra Summit Advisors LLC's holdings in Netflix were worth $9,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Trek Financial LLC boosted its position in Netflix by 830.3% during the fourth quarter. Trek Financial LLC now owns 5,163 shares of the Internet television network's stock worth $4,602,000 after purchasing an additional 4,608 shares during the period. FMR LLC lifted its holdings in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares in the last quarter. Benchmark Investment Advisors LLC boosted its stake in Netflix by 108.7% in the 4th quarter. Benchmark Investment Advisors LLC now owns 1,394 shares of the Internet television network's stock worth $1,242,000 after purchasing an additional 726 shares during the period. Ashburton Jersey Ltd purchased a new position in Netflix during the 4th quarter valued at about $882,000. Finally, Federated Hermes Inc. increased its holdings in Netflix by 81.8% during the 4th quarter. Federated Hermes Inc. now owns 156,196 shares of the Internet television network's stock worth $139,221,000 after acquiring an additional 70,290 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In related news, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock valued at $267,919,297 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com cut Netflix from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Guggenheim restated a "buy" rating and set a $1,100.00 price target on shares of Netflix in a research report on Thursday, April 3rd. Barclays upgraded Netflix from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $715.00 to $900.00 in a report on Wednesday, January 22nd. Benchmark raised Netflix from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. Finally, FBN Securities assumed coverage on Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. 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 company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,017.31.

Netflix Stock Performance

Shares of NFLX stock traded down $26.76 on Thursday, hitting $918.71. The company had a trading volume of 2,735,844 shares, compared to its average volume of 3,669,540. The firm has a market cap of $392.98 billion, a P/E ratio of 46.32, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a 50-day moving average price of $962.78 and a 200-day moving average price of $881.51. 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 issued 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 business had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter last year, the company earned $2.11 EPS. The business's revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.