Patton Fund Management Inc. Has $6.41 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Patton Fund Management Inc. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,191 shares of the Internet television network’s stock after selling 1,066 shares during the quarter. Netflix comprises about 1.3% of Patton Fund Management Inc.’s holdings, making the stock its 23rd largest position. Patton Fund Management Inc.’s holdings in Netflix were worth $6,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Magnolia Capital Advisors LLC increased its holdings in Netflix by 3.0% in the second quarter. Magnolia Capital Advisors LLC now owns 961 shares of the Internet television network’s stock valued at $649,000 after purchasing an additional 28 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Netflix in the second quarter valued at about $253,000. Advisory Alpha LLC lifted its stake in shares of Netflix by 1.5% in the second quarter. Advisory Alpha LLC now owns 1,587 shares of the Internet television network’s stock worth $1,071,000 after acquiring an additional 23 shares during the period. Ted Buchan & Co bought a new stake in Netflix in the second quarter valued at approximately $1,091,000. Finally, Heartland Bank & Trust Co increased its position in Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Netflix stock opened at $971.83 on Wednesday. The business’s 50 day simple moving average is $899.64 and its 200 day simple moving average is $772.71. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $999.00. The company has a market cap of $415.42 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 1.53 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the firm earned $2.11 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 23.72 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Macquarie upped their target price on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and issued a $1,150.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Activity

In other Netflix news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold a total of 147,117 shares of company stock valued at $123,913,691 over the last quarter. 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.