Sunbeam Capital Management LLC Purchases New Stake in Netflix, Inc. (NASDAQ:NFLX)

Sunbeam Capital Management LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 382 shares of the Internet television network's stock, valued at approximately $340,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Netflix during the fourth quarter valued at $5,019,087,000. Proficio Capital Partners LLC grew its stake in shares of Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock valued at $1,716,662,000 after buying an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after acquiring an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after acquiring an additional 570,674 shares during the period. Institutional investors own 80.93% of the company's stock.

Netflix Stock Up 0.0%

Shares of NASDAQ NFLX traded up $0.38 during midday trading on Wednesday, hitting $1,211.95. 865,657 shares of the company's stock were exchanged, compared to its average volume of 3,742,608. 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 fifty day simple moving average is $1,045.95 and its 200-day simple moving average is $967.38. The company has a market cap of $515.77 billion, a PE ratio of 61.12, a P/E/G ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,215.39.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period last year, the firm posted $8.28 earnings per share. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at $3,624,746.55. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 30,485 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $386,876.48. The trade was a 98.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,708 shares of company stock worth $138,323,256 in the last quarter. Company insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NFLX. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the stock an "overweight" rating in a research report on Monday, April 21st. Robert W. Baird raised their price objective on Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Wedbush reaffirmed an "outperform" rating and issued a $1,200.00 price objective on shares of Netflix in a report on Monday, May 5th. Barclays boosted their price target on Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Finally, Loop Capital reissued a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,102.79.

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.