State of Alaska Department of Revenue lowered its holdings in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,818 shares of the Internet television network’s stock after selling 1,494 shares during the quarter. State of Alaska Department of Revenue’s holdings in Netflix were worth $24,420,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of NFLX. Polen Capital Management LLC grew its position in 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 valued at $1,726,348,000 after purchasing an additional 2,569,072 shares during the period. Price T Rowe Associates Inc. MD grew its position in Netflix by 21.2% in 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 during the period. Jennison Associates LLC grew its position in Netflix by 77.7% in 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 during the period. Edgewood Management LLC boosted 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 worth $1,426,130,000 after acquiring an additional 977,900 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Netflix during the 3rd quarter worth $187,599,000. Institutional investors and hedge funds own 77.26% of the company’s stock.
Insider Buying and Selling
In related news, Director Jay C. Hoag sold 3,698 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $352.94, for a total value of $1,305,172.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.39% of the stock is owned by company insiders.
Netflix Price Performance
Netflix (NASDAQ:NFLX – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The Internet television network reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.35). The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.85 billion. Netflix had a return on equity of 23.06% and a net margin of 14.21%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. As a group, research analysts forecast that Netflix, Inc. will post 11.18 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Netflix in a report on Thursday. They set a “hold” rating on the stock. Citigroup lifted their price objective on shares of Netflix from $395.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer lifted their price objective on shares of Netflix from $400.00 to $415.00 and gave the stock an “outperform” rating in a report on Friday, January 20th. Evercore ISI lifted their price objective on shares of Netflix from $340.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, January 20th. Finally, Wells Fargo & Company raised shares of Netflix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $300.00 to $400.00 in a report on Friday, December 9th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has an average rating of “Hold” and a consensus target price of $343.13.
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.
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