Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Pitcairn Co.

Pitcairn Co. boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 26.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,695 shares of the Internet television network’s stock after purchasing an additional 1,395 shares during the quarter. Pitcairn Co.’s holdings in Netflix were worth $5,967,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. boosted its holdings in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after buying an additional 171,712 shares in the last quarter. State Street Corp lifted its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC boosted its stake in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after acquiring an additional 175,596 shares in the last quarter. Norges Bank purchased a new position in shares of Netflix during the fourth quarter worth about $5,019,087,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Netflix by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock worth $4,582,568,000 after purchasing an additional 82,564 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on NFLX shares. Guggenheim upped their target price on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Pivotal Research increased their price objective on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $715.00 to $900.00 in a report on Wednesday, January 22nd. UBS Group set a $1,000.00 price target on shares of Netflix in a research note on Monday, March 24th. Finally, Moffett Nathanson upgraded shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $850.00 to $1,100.00 in a research note on Monday, March 17th. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,023.74.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the sale, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,676 shares of company stock valued at $273,515,672 over the last quarter. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $935.52 on Thursday. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a market capitalization of $400.18 billion, a P/E ratio of 47.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. 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 firm has a 50-day moving average price of $974.03 and a two-hundred day moving average price of $873.22.

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

Netflix Company 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.