Bartlett & Co. LLC Purchases 130 Shares of Netflix, Inc. (NASDAQ:NFLX)

Posted by Defense World Staff on Mar 19th, 2023

Bartlett & Co. LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260 shares of the Internet television network’s stock after buying an additional 130 shares during the period. Bartlett & Co. LLC’s holdings in Netflix were worth $77,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NFLX. Polen Capital Management LLC raised its holdings in shares of Netflix by 53.9% in the 3rd quarter. Polen Capital Management LLC now owns 7,332,431 shares of the Internet television network’s stock worth $1,726,348,000 after buying an additional 2,569,072 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Netflix by 21.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 11,405,142 shares of the Internet television network’s stock valued at $2,690,289,000 after purchasing an additional 1,991,099 shares in the last quarter. Jennison Associates LLC increased its holdings in Netflix by 77.7% during the 3rd quarter. Jennison Associates LLC now owns 2,601,128 shares of the Internet television network’s stock valued at $612,410,000 after purchasing an additional 1,137,471 shares in the last quarter. Edgewood Management LLC increased its holdings in Netflix by 19.3% during the 3rd quarter. Edgewood Management LLC now owns 6,057,299 shares of the Internet television network’s stock valued at $1,426,130,000 after purchasing an additional 977,900 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Netflix during the 3rd quarter valued at $187,599,000. 77.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent analyst reports. Cowen set a $405.00 price target on Netflix in a report on Friday, December 9th. Credit Suisse Group raised their price target on Netflix from $271.00 to $291.00 and gave the company a “neutral” rating in a report on Friday, January 20th. Evercore ISI lifted their target price on Netflix from $340.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, January 20th. New Street Research started coverage on Netflix in a research note on Wednesday, January 4th. They issued a “neutral” rating and a $304.00 target price for the company. Finally, Benchmark lifted their target price on Netflix from $225.00 to $250.00 and gave the company a “sell” rating in a research note on Friday, January 20th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $343.13.

Netflix Price Performance

NASDAQ:NFLX opened at $303.50 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50-day simple moving average is $334.97 and its 200 day simple moving average is $292.69. The company has a market cap of $135.16 billion, a P/E ratio of 30.50, a P/E/G ratio of 1.41 and a beta of 1.26. Netflix, Inc. has a 52-week low of $162.71 and a 52-week high of $396.50.

Netflix (NASDAQ:NFLX – Get Rating) last released its earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.35). The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.85 billion. Netflix had a net margin of 14.21% and a return on equity of 23.06%. Netflix’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 11.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Jay C. Hoag sold 3,698 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $352.94, for a total transaction of $1,305,172.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.39% of the company’s stock.

About Netflix

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Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.