Sierra Summit Advisors LLC Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sierra Summit Advisors LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 24.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,811 shares of the Internet television network’s stock after acquiring an additional 2,099 shares during the period. Netflix makes up 1.9% of Sierra Summit Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Sierra Summit Advisors LLC’s holdings in Netflix were worth $9,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC raised its holdings in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares in the last quarter. Newton One Investments LLC purchased a new position in shares of Netflix during the 4th quarter worth approximately $34,000. Pineridge Advisors LLC boosted its stake in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares in the last quarter. Princeton Global Asset Management LLC grew its holdings in Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after acquiring an additional 16 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new position in Netflix during the fourth quarter worth $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group set a $1,000.00 target price on shares of Netflix in a research report on Monday, March 24th. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Bank of America upped their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Needham & Company LLC upped their price target on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.74.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. This represents a 41.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 280,676 shares of company stock worth $273,515,672. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 6.7 %

NFLX stock opened at $855.86 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $366.10 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.55. The business has a fifty day simple moving average of $970.24 and a 200-day simple moving average of $877.11. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

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