Adage Capital Partners GP L.L.C. Sells 9,900 Shares of Netflix, Inc. (NASDAQ:NFLX)

Adage Capital Partners GP L.L.C. decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 389,633 shares of the Internet television network's stock after selling 9,900 shares during the quarter. Netflix comprises about 0.6% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 27th biggest holding. Adage Capital Partners GP L.L.C. owned about 0.09% of Netflix worth $347,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Netflix in the 4th quarter worth about $5,019,087,000. Proficio Capital Partners LLC lifted its stake in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after buying an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after acquiring an additional 743,724 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in Netflix by 112,896.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network's stock valued at $340,420,000 after acquiring an additional 381,590 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NASDAQ NFLX traded up $4.66 during trading on Friday, hitting $1,101.53. 3,944,668 shares of the stock traded hands, compared to its average volume of 3,708,273. The company has a market capitalization of $468.78 billion, a P/E ratio of 55.55, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a 12-month low of $544.25 and a 12-month high of $1,106.80. The firm has a 50-day simple moving average of $955.92 and a 200-day simple moving average of $904.88. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly 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. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the previous year, the business posted $8.28 earnings per share. As a group, analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 273,855 shares of company stock worth $267,474,816 in the last three months. Insiders own 1.76% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler set a $1,150.00 target price on Netflix and gave the stock an "overweight" rating in a report on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on Netflix from $1,025.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. The Goldman Sachs Group lifted their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Finally, Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,072.12.

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.