Stonnington Group LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 7.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,077 shares of the Internet television network’s stock after selling 169 shares during the period. Stonnington Group LLC’s holdings in Netflix were worth $719,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of NFLX. Norges Bank bought a new stake in Netflix during the fourth quarter worth $1,501,762,000. Jennison Associates LLC lifted its position in shares of Netflix by 111.4% during the 4th quarter. Jennison Associates LLC now owns 5,499,391 shares of the Internet television network’s stock worth $1,621,660,000 after buying an additional 2,898,263 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Netflix by 117,939.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock valued at $808,575,000 after buying an additional 2,739,725 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Netflix by 21.2% in the third 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 acquiring an additional 1,991,099 shares during the last quarter. Finally, Ruane Cunniff & Goldfarb L.P. raised its stake in Netflix by 84.4% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 1,428,972 shares of the Internet television network’s stock worth $535,279,000 after acquiring an additional 653,867 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on NFLX. Pivotal Research lifted their price target on shares of Netflix from $425.00 to $535.00 in a report on Friday, June 9th. Oppenheimer upped their price target on shares of Netflix from $415.00 to $450.00 in a report on Wednesday, May 24th. Guggenheim raised their price objective on Netflix from $375.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, June 13th. Bank of America upped their target price on Netflix from $410.00 to $490.00 and gave the stock a “buy” rating in a report on Tuesday, June 13th. Finally, Wedbush reiterated an “outperform” rating on shares of Netflix in a research report on Thursday, April 13th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $370.22.
Netflix Trading Up 0.4 %
Netflix (NASDAQ:NFLX – Get Rating) last announced its quarterly earnings results on Tuesday, April 18th. The Internet television network reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.05. Netflix had a net margin of 13.16% and a return on equity of 20.43%. The business had revenue of $8.16 billion during the quarter, compared to analyst estimates of $8.18 billion. During the same quarter in the previous year, the business posted $3.53 EPS. Netflix’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Netflix, Inc. will post 11.22 earnings per share for the current fiscal year.
Insider Activity at Netflix
In other news, Chairman Reed Hastings sold 26,278 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $323.96, for a total value of $8,513,020.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy M. Haley sold 2,359 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $400.39, for a total transaction of $944,520.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 26,278 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $323.96, for a total transaction of $8,513,020.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,699 shares of company stock valued at $22,689,580. 2.45% of the stock is owned by corporate insiders.
Netflix Profile
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
Featured Articles
- Get a free research report on Netflix from StockNews.com
- MarketBeat Week in Review – 6/19 – 6/23
- CarMax Stock Flying On Earnings Beat, Return Of The Highs?
- Commercial Metals Company Shakes Off The Rust: Confirms Uptrend
- Smith & Wesson, A Timeless Value Play At Decade Lows
- Five stocks we like better than Netflix
Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.
