Arrowstreet Capital Limited Partnership Has $2.05 Billion Stake in Netflix, Inc. (NASDAQ:NFLX)

Arrowstreet Capital Limited Partnership raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 59.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,301,098 shares of the Internet television network’s stock after acquiring an additional 856,307 shares during the period. Netflix makes up about 1.6% of Arrowstreet Capital Limited Partnership’s investment portfolio, making the stock its 5th largest position. Arrowstreet Capital Limited Partnership’s holdings in Netflix were worth $2,051,016,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have commented on NFLX. Macquarie upped their target price on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. KeyCorp raised their price target on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Moffett Nathanson raised shares of Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $850.00 to $1,100.00 in a research note on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.02.

Netflix Stock Down 4.4 %

Shares of NFLX opened at $933.85 on Friday. The company has a market capitalization of $399.46 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The stock’s 50-day moving average price is $971.74 and its 200-day moving average price is $868.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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 business had revenue of $10.25 billion for 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 business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.11 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the company’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 completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,583 shares of company stock worth $279,611,567. 1.76% of the stock is owned by company insiders.

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.