Castle Hook Partners LP Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Castle Hook Partners LP acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, Holdings Channel.com reports. The firm acquired 69,001 shares of the Internet television network’s stock, valued at approximately $61,502,000. Netflix comprises about 0.8% of Castle Hook Partners LP’s portfolio, making the stock its 26th biggest position.

Several other institutional investors have also recently made changes to their positions in NFLX. Cetera Investment Advisers lifted its stake in Netflix by 1.4% in the fourth quarter. Cetera Investment Advisers now owns 77,851 shares of the Internet television network’s stock worth $69,390,000 after purchasing an additional 1,097 shares during the last quarter. BOKF NA raised its holdings in shares of Netflix by 2.3% in the fourth quarter. BOKF NA now owns 15,143 shares of the Internet television network’s stock worth $12,685,000 after buying an additional 341 shares during the period. Bridgefront Capital LLC bought a new stake in shares of Netflix during the 4th quarter worth approximately $218,000. Cantor Fitzgerald L. P. bought a new position in Netflix in the 4th quarter valued at $7,272,000. Finally, Captrust Financial Advisors increased its stake in Netflix by 6.7% in the fourth quarter. Captrust Financial Advisors now owns 123,488 shares of the Internet television network’s stock worth $110,068,000 after purchasing an additional 7,798 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NFLX. UBS Group lowered their target price on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Cfra Research upgraded shares of Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Arete Research upgraded Netflix to a “hold” rating in a report on Thursday, January 23rd. The Goldman Sachs Group upped their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,084.91.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $4,179,614.58. This trade represents a 41.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reed Hastings sold 26,977 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the transaction, the director now owns 394 shares of the company’s stock, valued at approximately $446,421.70. This trade represents a 98.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,451 shares of company stock worth $142,194,072 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Down 1.9 %

Shares of NFLX stock opened at $1,134.06 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $580.25 and a twelve month high of $1,159.44. The stock has a 50 day moving average of $971.22 and a 200 day moving average of $923.56. The stock has a market cap of $482.62 billion, a P/E ratio of 57.19, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the previous year, the business posted $8.28 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.