Netflix, Inc. (NASDAQ:NFLX) Stake Lifted by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 15.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,278 shares of the Internet television network’s stock after acquiring an additional 968 shares during the period. Clark Capital Management Group Inc.’s holdings in Netflix were worth $6,487,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC raised its holdings in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. Transce3nd LLC bought a new stake in Netflix during the 4th quarter valued at $32,000. Newton One Investments LLC acquired a new position in Netflix during the 4th quarter worth $34,000. Pineridge Advisors LLC increased its holdings in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC raised its stake in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFLX. Phillip Securities raised shares of Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Piper Sandler set a $1,150.00 target price on Netflix and gave the stock an “overweight” rating in a report on Monday, April 21st. Morgan Stanley upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Citigroup reissued a “neutral” rating on shares of Netflix in a research note on Monday. Finally, Wells Fargo & Company raised their target price on Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,084.91.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. This represents a 27.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 686 shares of Netflix stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $1,141.28, for a total value of $782,918.08. Following the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at $4,212,464.48. The trade was a 15.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,530 shares of company stock worth $137,602,751 over the last three months. 1.76% of the stock is currently owned by insiders.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,144.43 on Friday. The firm has a market cap of $487.04 billion, a price-to-earnings ratio of 57.71, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50-day simple moving average is $981.62 and its 200-day simple moving average is $929.20. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,164.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the firm earned $8.28 EPS. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.