Netflix, Inc. (NASDAQ:NFLX) Position Trimmed by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 69,680 shares of the Internet television network’s stock after selling 3,923 shares during the quarter. Netflix makes up 2.0% of Aristotle Atlantic Partners LLC’s portfolio, making the stock its 14th biggest position. Aristotle Atlantic Partners LLC’s holdings in Netflix were worth $62,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ardsley Advisory Partners LP lifted its holdings in Netflix by 100.0% in the fourth quarter. Ardsley Advisory Partners LP now owns 11,000 shares of the Internet television network’s stock worth $9,805,000 after acquiring an additional 5,500 shares during the last quarter. Absoluto Partners Gestao de Recursos Ltda lifted its holdings in shares of Netflix by 5.0% in the 4th quarter. Absoluto Partners Gestao de Recursos Ltda now owns 2,491 shares of the Internet television network’s stock worth $2,220,000 after purchasing an additional 119 shares during the last quarter. Advanced Portfolio Management LLC acquired a new position in Netflix during the 4th quarter valued at approximately $364,000. AlTi Global Inc. grew its stake in Netflix by 25.6% during the 4th quarter. AlTi Global Inc. now owns 1,600 shares of the Internet television network’s stock worth $1,403,000 after buying an additional 326 shares during the last quarter. Finally, Alight Capital Management LP increased its position in Netflix by 209.1% in the fourth quarter. Alight Capital Management LP now owns 17,000 shares of the Internet television network’s stock worth $15,152,000 after buying an additional 11,500 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 2.0 %

Shares of Netflix stock opened at $1,156.49 on Friday. 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 1 year low of $565.16 and a 1 year high of $1,159.44. The stock has a 50-day moving average price of $968.34 and a 200 day moving average price of $917.85. The company has a market cap of $492.17 billion, a P/E ratio of 58.32, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $10.51 billion. During the same period in the prior year, the firm earned $8.28 earnings per share. As a group, analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Pivotal Research upped their target price on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Macquarie lifted their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Piper Sandler set a $1,150.00 price objective on Netflix and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, KeyCorp raised their target price on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,084.91.

Insider Activity

In other Netflix news, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 of the company’s stock, valued at approximately $4,179,614.58. This represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,759 shares of company stock worth $186,744,388 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

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.