Zevenbergen Capital Investments LLC Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Zevenbergen Capital Investments LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,093 shares of the Internet television network's stock after selling 14,274 shares during the quarter. Netflix comprises about 2.5% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 13th biggest position. Zevenbergen Capital Investments LLC's holdings in Netflix were worth $124,868,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the 3rd quarter valued at $25,000. Pathway Financial Advisers LLC grew its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. Newton One Investments LLC bought a new stake in shares of Netflix in the 4th quarter valued at about $34,000. Pineridge Advisors LLC raised its stake in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after acquiring an additional 40 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Netflix during the third quarter valued at approximately $38,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Strive Masiyiwa sold 2,813 shares of the company's stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,583 shares of company stock valued at $279,611,567 in the last three months. 1.76% of the stock is currently owned by company insiders.

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Netflix Stock Performance

NASDAQ NFLX traded up $14.86 during trading on Thursday, reaching $985.51. The company's stock had a trading volume of 730,306 shares, compared to its average volume of 3,480,281. The firm has a market cap of $421.56 billion, a price-to-earnings ratio of 49.63, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The business's fifty day moving average price is $967.54 and its 200-day moving average price is $864.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NFLX shares. Wolfe Research raised Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target on the stock in a research report on Thursday, January 23rd. Guggenheim increased their price target on Netflix from $950.00 to $1,100.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Loop Capital boosted their price target on Netflix from $925.00 to $1,000.00 and gave the stock a "hold" rating in a research note 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. Finally, Bank of America lifted their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,016.78.

Netflix 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.