Voloridge Investment Management LLC Sells 28,960 Shares of Netflix, Inc. (NASDAQ:NFLX)

Voloridge Investment Management LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 33.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,102 shares of the Internet television network’s stock after selling 28,960 shares during the period. Voloridge Investment Management LLC’s holdings in Netflix were worth $50,896,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NFLX. Vanguard Group Inc. raised its position in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after buying an additional 171,712 shares in the last quarter. FMR LLC increased its stake in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC raised its position in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after purchasing an additional 175,596 shares during the period. Norges Bank purchased a new stake in Netflix during the fourth quarter valued at approximately $5,019,087,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Netflix by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock valued at $4,582,568,000 after purchasing an additional 82,564 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock opened at $1,192.02 on Wednesday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,196.50. The company has a 50-day simple moving average of $1,020.82 and a two-hundred day simple moving average of $952.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $507.29 billion, a PE ratio of 60.11, a P/E/G ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter last year, the firm earned $8.28 EPS. Research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler set a $1,150.00 target price on Netflix and gave the company an “overweight” rating in a research report on Monday, April 21st. UBS Group dropped their price objective on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Evercore ISI reissued an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Morgan Stanley raised their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $1,126.00 price target on shares of Netflix in a research note on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,102.79.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,624,746.55. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders sold 132,868 shares of company stock valued at $138,483,256 in the last three months. 1.76% of the stock is owned by insiders.

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.