Frisch Financial Group Inc. Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Frisch Financial Group Inc. lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 33.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507 shares of the Internet television network’s stock after purchasing an additional 126 shares during the quarter. Frisch Financial Group Inc.’s holdings in Netflix were worth $359,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NFLX. DigitalBridge Group Inc. increased its position in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares during the period. Kestra Investment Management LLC purchased a new position in Netflix in the 3rd quarter valued at approximately $1,517,000. Finally, Voyager Global Management LP raised its holdings in Netflix by 1.0% during the third quarter. Voyager Global Management LP now owns 101,000 shares of the Internet television network’s stock worth $71,636,000 after purchasing an additional 1,000 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NFLX shares. JPMorgan Chase & Co. raised their price target on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Piper Sandler restated an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Barclays reiterated an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research report on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Sanford C. Bernstein increased their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $783.00.

Netflix Stock Down 2.3 %

Shares of Netflix stock opened at $913.69 on Tuesday. Netflix, Inc. has a twelve month low of $457.21 and a twelve month high of $935.27. The stock has a market cap of $390.57 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $797.01 and a 200 day moving average price of $712.57.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Equities research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,155 shares of company stock worth $159,682,799 over the last 90 days. Company insiders own 1.76% of the company’s stock.

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.