Norden Group LLC Has $6.55 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Norden Group LLC decreased its position in Netflix, Inc. by 24.6%, now holding 7,028 shares worth $6.55 million, making it the firm’s 20th largest holding.
• Netflix's stock performance shows a market capitalization of $501.63 billion and a price-to-earnings ratio of 50.30, with shares trading at $1,180.49.
• A significant number of institutional investors have recently increased their stakes in Netflix, with 80.93% of the company's stock now owned by institutional investors and hedge funds.

Norden Group LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 24.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,028 shares of the Internet television network's stock after selling 2,289 shares during the period. Netflix accounts for about 0.8% of Norden Group LLC's portfolio, making the stock its 20th biggest holding. Norden Group LLC's holdings in Netflix were worth $6,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Brighton Jones LLC increased its holdings in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares during the period. BIP Wealth LLC increased its stake in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after buying an additional 87 shares during the period. New Age Alpha Advisors LLC boosted its stake in shares of Netflix by 23,012.5% in the 4th quarter. New Age Alpha Advisors LLC now owns 3,698 shares of the Internet television network's stock valued at $3,296,000 after purchasing an additional 3,682 shares during the last quarter. Finally, RiverFront Investment Group LLC bought a new stake in shares of Netflix in the 4th quarter valued at $227,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Performance

NASDAQ NFLX opened at $1,180.49 on Monday. The company has a market capitalization of $501.63 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. The company has a 50-day simple moving average of $1,236.44 and a 200 day simple moving average of $1,074.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business's revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.88 earnings per share. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In related news, Director Ann Mather sold 1,090 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Reed Hastings sold 9,673 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the completion of the transaction, the director owned 394 shares of the company's stock, valued at $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,923 shares of company stock valued at $222,445,095. 1.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 price objective on shares of Netflix in a research note on Friday, July 18th. Piper Sandler upped their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Robert W. Baird raised their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Wedbush reaffirmed an "outperform" rating and set a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average price target of $1,297.66.

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.

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