Congress Asset Management Co. Acquires 2,113 Shares of Netflix, Inc. (NASDAQ:NFLX)

Congress Asset Management Co. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 1.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 135,835 shares of the Internet television network’s stock after buying an additional 2,113 shares during the period. Congress Asset Management Co.’s holdings in Netflix were worth $121,072,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Roxbury Financial LLC bought a new position in Netflix in the 4th quarter worth $122,000. Empire Life Investments Inc. bought a new position in Netflix in the 4th quarter worth $1,899,000. Spinnaker Trust bought a new position in Netflix in the 4th quarter worth $223,000. Constant Guidance Financial LLC boosted its holdings in Netflix by 78.9% in the 4th quarter. Constant Guidance Financial LLC now owns 5,633 shares of the Internet television network’s stock worth $5,021,000 after buying an additional 2,485 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Netflix by 1.7% in the 4th quarter. Rhumbline Advisers now owns 804,795 shares of the Internet television network’s stock worth $717,330,000 after buying an additional 13,070 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, insider David A. Hyman sold 41,121 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,809 shares of company stock worth $290,374,484. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $1,058.60 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $452.83 billion, a P/E ratio of 53.38, a P/E/G ratio of 2.11 and a beta of 1.27. The company’s 50-day simple moving average is $929.40 and its two-hundred day simple moving average is $804.02. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm earned $2.11 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Needham & Company LLC upped their target price on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, KeyCorp boosted their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Company 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.