IronOak Wealth LLC. Buys New Stake in Netflix, Inc. (NASDAQ:NFLX)

IronOak Wealth LLC. bought a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,989 shares of the Internet television network's stock, valued at approximately $1,773,000. Netflix accounts for about 2.0% of IronOak Wealth LLC.'s holdings, making the stock its 20th largest holding.

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

Netflix Stock Up 1.4%

NASDAQ NFLX traded up $17.03 during trading on Friday, hitting $1,201.89. 1,902,875 shares of the company traded hands, compared to its average volume of 3,742,443. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,215.91. The business has a fifty day simple moving average of $1,055.18 and a 200 day simple moving average of $971.66. The company has a market capitalization of $511.49 billion, a P/E ratio of 60.60, a PEG ratio of 2.12 and a beta of 1.58. 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 - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $10.51 billion. During the same period in the previous year, the company earned $8.28 EPS. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research analyst reports. Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. KeyCorp upped their target price on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Citigroup reaffirmed a "neutral" rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a report on Thursday. Piper Sandler set a $1,150.00 target price on Netflix and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, UBS Group dropped their price target on Netflix from $1,150.00 to $1,140.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,122.33.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following 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 disclosure for this sale can be found here. Insiders have sold 133,348 shares of company stock worth $139,087,908 in the last quarter. 1.37% of the stock is currently owned by company insiders.

About Netflix

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.