Twinbeech Capital LP Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Twinbeech Capital LP purchased a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,187 shares of the Internet television network's stock, valued at approximately $21,558,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC grew its position in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares during the period. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter valued at $32,000. Newton One Investments LLC purchased a new stake in shares of Netflix in the fourth quarter valued at $34,000. Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after purchasing an additional 40 shares during the period. Finally, Stuart Chaussee & Associates Inc. grew its position in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity

In other 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 value of $2,554,312.05. Following the completion of the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,624,746.55. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director now directly owns 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 132,868 shares of company stock worth $138,483,256 over the last quarter. Corporate insiders own 1.76% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded up $2.61 on Wednesday, reaching $1,194.63. 2,969,681 shares of the company traded hands, compared to its average volume of 3,754,513. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,210.94. The company's 50 day moving average is $1,020.82 and its 200-day moving average is $952.98. The stock has a market capitalization of $508.40 billion, a PE ratio of 60.24, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The company 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 in the prior year, the company earned $8.28 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. Macquarie lifted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Bank of America boosted their price target on Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Piper Sandler set a $1,150.00 price target on Netflix and gave the company an "overweight" rating in a research report on Monday, April 21st. UBS Group lowered 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. Finally, Benchmark reissued a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,102.79.

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.