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

Pitcairn Co. lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,695 shares of the Internet television network’s stock after acquiring 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.

A number of other institutional investors have also recently modified their holdings of NFLX. Principal Financial Group Inc. raised its stake in shares of Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after buying an additional 198,148 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Netflix by 43.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 32,902 shares of the Internet television network’s stock worth $23,336,000 after acquiring an additional 10,001 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Netflix by 1.6% during the third quarter. Integrated Wealth Concepts LLC now owns 10,977 shares of the Internet television network’s stock worth $7,786,000 after acquiring an additional 178 shares during the period. IHT Wealth Management LLC lifted its holdings in Netflix by 8.8% during the third quarter. IHT Wealth Management LLC now owns 5,783 shares of the Internet television network’s stock valued at $4,110,000 after purchasing an additional 470 shares in the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in Netflix by 5.7% during the third quarter. Motley Fool Asset Management LLC now owns 19,879 shares of the Internet television network’s stock valued at $14,037,000 after purchasing an additional 1,075 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFLX has been the subject of several research analyst reports. Bank of America upped their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Loop Capital restated a “hold” rating on shares of Netflix in a research report on Monday, March 24th. Moffett Nathanson upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $850.00 to $1,100.00 in a research report on Monday, March 17th. Finally, Argus raised their price objective on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,023.74.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the company’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 directly owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 280,676 shares of company stock valued at $273,515,672 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX opened at $935.52 on Thursday. The stock’s 50-day moving average price is $974.03 and its 200 day moving average price is $873.22. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The firm has a market cap of $400.18 billion, a price-to-earnings ratio of 47.18, a PEG 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.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results 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 business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.11 earnings per share. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.