Edgestream Partners L.P. Has $14.34 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Edgestream Partners L.P. grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 85.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,092 shares of the Internet television network’s stock after purchasing an additional 7,402 shares during the quarter. Netflix comprises approximately 0.6% of Edgestream Partners L.P.’s investment portfolio, making the stock its 6th largest position. Edgestream Partners L.P.’s holdings in Netflix were worth $14,343,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NFLX. State Street Corp increased its stake in shares of Netflix by 2.6% in 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 acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC increased 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 valued at $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Netflix by 0.5% in the 3rd 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 acquiring an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Netflix by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after acquiring an additional 45,507 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 8.5 %

Shares of Netflix stock opened at $906.36 on Friday. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The stock’s 50-day simple moving average is $950.59 and its 200 day simple moving average is $839.12. The stock has a market capitalization of $387.70 billion, a P/E ratio of 45.71, a P/E/G ratio of 2.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Arete Research upgraded shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Needham & Company LLC boosted their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. KeyCorp boosted their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Activity

In other news, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock worth $279,142,041 over the last ninety days. Company insiders own 1.76% of the company’s stock.

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.