Reliant Investment Management LLC Buys Shares of 6,313 Netflix, Inc. (NASDAQ:NFLX)

Reliant Investment Management LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,313 shares of the Internet television network’s stock, valued at approximately $5,627,000. Netflix comprises approximately 2.5% of Reliant Investment Management LLC’s investment portfolio, making the stock its 18th biggest position.

Several other large investors have also recently bought and sold shares of NFLX. State Street Corp raised its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares during the last quarter. Jennison Associates LLC raised its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total transaction of $980,289.90. Following the transaction, the chief executive officer now owns 2,556 shares of the company’s stock, valued at $1,960,579.80. This represents a 33.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,198 shares of company stock valued at $127,616,898. Insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.9 %

NFLX stock opened at $858.10 on Tuesday. The stock’s fifty day simple moving average is $884.58 and its two-hundred day simple moving average is $759.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 1-year low of $476.06 and a 1-year high of $941.75. The stock has a market cap of $366.80 billion, a P/E ratio of 48.56, a P/E/G ratio of 1.40 and a beta of 1.27.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Bank of America raised their target price on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Argus raised their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Piper Sandler raised their target price on Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Finally, Oppenheimer decreased their target price on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

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.