RiverFront Investment Group LLC Makes New $227,000 Investment in Netflix, Inc. (NASDAQ:NFLX)

RiverFront Investment Group LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 255 shares of the Internet television network’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NFLX. Vanguard Group Inc. lifted its holdings in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the period. State Street Corp increased its position in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Norges Bank purchased a new position in shares of Netflix in the fourth quarter worth approximately $5,019,087,000. Finally, Wellington Management Group LLP grew its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 4.4 %

Shares of NASDAQ:NFLX opened at $933.85 on Friday. The company has a market cap of $399.46 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $971.74 and a 200 day moving average price of $868.10.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the company earned $2.11 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. FBN Securities began coverage on shares of Netflix in a research report on Thursday. They issued an “outperform” rating and a $1,165.00 price target on the stock. Argus raised their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. KeyCorp lifted their target price on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Finally, Robert W. Baird lifted their price objective on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $1,021.02.

Insider Buying and Selling

In related news, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Insiders sold a total of 288,583 shares of company stock worth $279,611,567 over the last three months. 1.76% of the stock is owned by insiders.

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.