Douglas Lane & Associates LLC Has $516,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Douglas Lane & Associates LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 17.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 579 shares of the Internet television network’s stock after purchasing an additional 88 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Netflix were worth $516,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NFLX. Advisory Resource Group increased its stake in shares of Netflix by 0.7% in the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after acquiring an additional 12 shares in the last quarter. Insight Wealth Strategies LLC increased its stake in shares of Netflix by 1.9% during the fourth quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after purchasing an additional 12 shares in the last quarter. New World Advisors LLC boosted its position in shares of Netflix by 2.0% in the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares in the last quarter. Heartland Bank & Trust Co grew its stake in shares of Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares during the last quarter. Finally, Cedrus LLC increased its position in Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after buying an additional 15 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Morgan Stanley raised their price objective on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Finally, KeyCorp increased their target price on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $824.30.

Netflix Stock Performance

NFLX opened at $875.00 on Thursday. The company has a 50 day simple moving average of $874.05 and a two-hundred day simple moving average of $750.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $374.03 billion, a P/E ratio of 49.52, a PEG ratio of 1.77 and a beta of 1.27. Netflix, Inc. has a 1-year low of $472.95 and a 1-year high of $941.75.

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

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock valued at $131,030,268 over the last 90 days. Company insiders own 1.76% of the company’s stock.

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.