Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 496 shares of the Internet television network’s stock after buying an additional 39 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Netflix were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bradley & Co. Private Wealth Management LLC acquired a new position in Netflix in the fourth quarter valued at approximately $129,000. FFT Wealth Management LLC acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $209,000. Delta Financial Advisors LLC boosted its holdings in shares of Netflix by 4.0% in the fourth quarter. Delta Financial Advisors LLC now owns 391 shares of the Internet television network’s stock valued at $349,000 after acquiring an additional 15 shares during the period. Longbow Finance SA boosted its holdings in shares of Netflix by 30.3% in the fourth quarter. Longbow Finance SA now owns 18,264 shares of the Internet television network’s stock valued at $16,279,000 after acquiring an additional 4,248 shares during the period. Finally, Schoolcraft Capital LLC acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $204,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 1.1 %

Shares of NASDAQ:NFLX opened at $977.24 on Wednesday. The firm has a market cap of $418.02 billion, a price-to-earnings ratio of 49.28, a PEG ratio of 2.12 and a beta of 1.27. 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 12-month low of $542.01 and a 12-month high of $1,064.50. The stock’s 50-day moving average price is $943.06 and its two-hundred day moving average price is $826.31.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $2.11 EPS. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Pivotal Research increased their price objective on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $1,150.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Finally, Bank of America increased their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.