Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 81.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 156,196 shares of the Internet television network’s stock after acquiring an additional 70,290 shares during the period. Federated Hermes Inc.’s holdings in Netflix were worth $139,221,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after purchasing an additional 198,148 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Netflix during the 3rd quarter valued at approximately $248,000. Weiss Asset Management LP purchased a new position in shares of Netflix during the 3rd quarter valued at approximately $878,000. Kovitz Investment Group Partners LLC increased its stake in shares of Netflix by 139.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 18,348 shares of the Internet television network’s stock worth $13,014,000 after buying an additional 10,700 shares during the last quarter. Finally, Castleark Management LLC increased its stake in shares of Netflix by 46.3% in the third quarter. Castleark Management LLC now owns 44,648 shares of the Internet television network’s stock worth $31,667,000 after buying an additional 14,138 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Down 6.7 %

Netflix stock opened at $855.86 on Friday. The company’s 50-day moving average price is $970.24 and its two-hundred day moving average price is $875.80. The stock 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 1.38. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned $2.11 earnings per share. On average, analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NFLX. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Needham & Company LLC lifted their price target on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,023.74.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. This represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,676 shares of company stock valued at $273,515,672. Corporate 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.