Stonehearth Capital Management LLC Acquires Shares of 283 Netflix, Inc. (NASDAQ:NFLX)

Stonehearth Capital Management LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 283 shares of the Internet television network’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NFLX. State Street Corp raised its holdings in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Geode Capital Management LLC grew its position in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% during the 3rd 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 purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock traded down $2.59 during mid-day trading on Tuesday, hitting $879.20. The stock had a trading volume of 1,089,525 shares, compared to its average volume of 2,440,767. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $869.23 and its 200 day moving average is $748.42. The firm has a market capitalization of $375.82 billion, a P/E ratio of 49.76, a P/E/G ratio of 1.77 and a beta of 1.27. Netflix, Inc. has a one year low of $472.95 and a one year high of $941.75.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. On average, sell-side analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Wedbush restated an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. Bank of America lifted their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Barclays reissued an “underweight” rating and issued a $550.00 price target on shares of Netflix in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $821.27.

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,761 shares of company stock valued at $125,713,484. 1.76% of the stock is currently owned by corporate insiders.

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.