Traynor Capital Management Inc. Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Traynor Capital Management Inc. increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,339 shares of the Internet television network’s stock after purchasing an additional 1,536 shares during the quarter. Netflix accounts for 5.0% of Traynor Capital Management Inc.’s holdings, making the stock its 5th biggest position. Traynor Capital Management Inc.’s holdings in Netflix were worth $48,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its holdings in shares of Netflix by 3.1% during the second quarter. State Street Corp now owns 16,699,906 shares of the Internet television network’s stock valued at $7,356,142,000 after acquiring an additional 504,416 shares during the period. Morgan Stanley increased its stake in Netflix by 11.1% in the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock valued at $1,906,005,000 after buying an additional 644,162 shares during the period. Norges Bank acquired a new position in Netflix in the 4th quarter valued at approximately $1,501,762,000. Northern Trust Corp increased its stake in Netflix by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock valued at $1,749,712,000 after buying an additional 96,938 shares during the period. Finally, Jennison Associates LLC increased its stake in Netflix by 24.3% in the 3rd quarter. Jennison Associates LLC now owns 3,878,293 shares of the Internet television network’s stock valued at $1,464,444,000 after buying an additional 759,378 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer upped their price objective on shares of Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research note on Monday, March 11th. The Goldman Sachs Group upped their price objective on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Pivotal Research increased their price target on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Sanford C. Bernstein increased their price target on shares of Netflix from $390.00 to $490.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company increased their price target on shares of Netflix from $460.00 to $650.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $583.18.

Netflix Price Performance

Shares of Netflix stock traded down $6.20 during mid-day trading on Thursday, reaching $607.33. 3,706,671 shares of the stock were exchanged, compared to its average volume of 4,552,830. The company has a market cap of $262.83 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm has a 50-day simple moving average of $581.81 and a 200 day simple moving average of $487.70. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $634.39.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.09). The company had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 17.01 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gregory K. Peters sold 13,655 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,118,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the transaction, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,767 shares of company stock worth $151,298,232. 2.45% of the stock is currently owned by corporate insiders.

Netflix Profile

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.