Rafferty Asset Management LLC Purchases 7,692 Shares of Netflix, Inc. (NASDAQ:NFLX)

Rafferty Asset Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,421 shares of the Internet television network’s stock after buying an additional 7,692 shares during the period. Rafferty Asset Management LLC’s holdings in Netflix were worth $64,550,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Raiffeisen Bank International AG purchased a new stake in Netflix during the 4th quarter valued at $6,981,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Netflix by 613.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,165 shares of the Internet television network’s stock valued at $11,734,000 after purchasing an additional 11,320 shares in the last quarter. Rip Road Capital Partners LP boosted its position in shares of Netflix by 14.7% during the fourth quarter. Rip Road Capital Partners LP now owns 10,948 shares of the Internet television network’s stock valued at $9,758,000 after buying an additional 1,400 shares during the last quarter. Polar Asset Management Partners Inc. increased its holdings in Netflix by 270.4% in the 4th quarter. Polar Asset Management Partners Inc. now owns 26,300 shares of the Internet television network’s stock worth $23,442,000 after buying an additional 19,200 shares in the last quarter. Finally, Polar Capital Holdings Plc raised its position in Netflix by 1.2% in the 4th quarter. Polar Capital Holdings Plc now owns 196,703 shares of the Internet television network’s stock worth $175,325,000 after buying an additional 2,330 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NFLX. Loop Capital reiterated a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Benchmark reaffirmed a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Needham & Company LLC reissued a “buy” rating and set a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. Piper Sandler set a $1,150.00 price target on Netflix and gave the stock an “overweight” rating in a research note on Monday, April 21st. Finally, Arete Research upgraded Netflix to a “hold” rating in a research report on Thursday, January 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,084.91.

Insiders Place Their Bets

In related news, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the sale, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director now directly owns 7,969 shares in the company, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,868 shares of company stock valued at $138,483,256 in the last quarter. 1.76% of the stock is currently owned by insiders.

Netflix Trading Up 1.1%

Netflix stock opened at $1,150.99 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s 50 day moving average price is $997.19 and its 200-day moving average price is $939.66. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,164.00. The stock has a market cap of $489.83 billion, a P/E ratio of 58.04, a PEG ratio of 2.12 and a beta of 1.58.

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

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.