Skye Global Management LP Invests $749,000 in Netflix, Inc. (NASDAQ:NFLX)

Skye Global Management LP bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 840 shares of the Internet television network's stock, valued at approximately $749,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its stake in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Transce3nd LLC bought a new position in shares of Netflix during the 4th quarter valued at about $32,000. Newton One Investments LLC purchased a new position in shares of Netflix during the fourth quarter valued at about $34,000. Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% during 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 in the last quarter. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock worth $42,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Trading Up 2.3%

Netflix stock opened at $1,177.98 on Friday. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,187.80. The stock has a 50-day moving average price of $1,003.42 and a 200 day moving average price of $942.62. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $501.31 billion, a price-to-earnings ratio of 59.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the firm earned $8.28 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. KeyCorp increased their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. StockNews.com downgraded Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Loop Capital restated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Guggenheim reaffirmed a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,084.91.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 2,027 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total value of $2,313,840.77. Following the completion of the transaction, the chief executive officer now owns 12,781 shares of the company's stock, valued at approximately $14,589,639.31. This represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,868 shares of company stock worth $138,483,256. 1.76% of the stock is owned by corporate insiders.

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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