Edgewood Management LLC Boosts Position in Netflix, Inc. (NFLX)

Edgewood Management LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,049,594 shares of the Internet television network’s stock after buying an additional 182,387 shares during the period. Netflix makes up approximately 3.3% of Edgewood Management LLC’s investment portfolio, making the stock its 21st largest position. Edgewood Management LLC owned 0.94% of Netflix worth $598,570,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Netflix by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 507,261 shares of the Internet television network’s stock valued at $62,804,000 after buying an additional 19,154 shares in the last quarter. Brown Advisory Inc. raised its stake in Netflix by 4.6% in the fourth quarter. Brown Advisory Inc. now owns 7,252 shares of the Internet television network’s stock valued at $898,000 after buying an additional 316 shares in the last quarter. Cantab Capital Partners LLP acquired a new stake in Netflix during the fourth quarter valued at approximately $177,000. Parallel Advisors LLC acquired a new stake in Netflix during the fourth quarter valued at approximately $1,838,000. Finally, Menta Capital LLC acquired a new stake in Netflix during the fourth quarter valued at approximately $2,251,000. Institutional investors and hedge funds own 82.77% of the company’s stock.

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Shares of Netflix, Inc. (NASDAQ:NFLX) opened at 158.02 on Monday. The company has a market capitalization of $68.11 billion, a P/E ratio of 204.42 and a beta of 0.96. Netflix, Inc. has a 52-week low of $84.50 and a 52-week high of $166.87. The firm’s 50 day moving average is $158.38 and its 200-day moving average is $143.59. Netflix also was the recipient of unusually large options trading activity on Friday. Stock investors bought 68,750 call options on the company. This is an increase of approximately 165% compared to the typical daily volume of 25,980 call options.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, April 17th. The Internet television network reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Netflix had a net margin of 3.55% and a return on equity of 12.73%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue was up 34.7% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post $1.05 earnings per share for the current fiscal year.

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Several analysts have recently commented on NFLX shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Netflix in a research report on Tuesday, February 28th. Zacks Investment Research lowered shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, March 7th. Vetr lowered shares of Netflix from a “hold” rating to a “sell” rating and set a $137.92 price target on the stock. in a research report on Monday, March 13th. Wedbush reiterated a “sell” rating and issued a $68.00 price target on shares of Netflix in a research report on Tuesday, March 14th. Finally, Jefferies Group LLC reiterated a “sell” rating and issued a $95.00 price target on shares of Netflix in a research report on Tuesday, March 14th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $148.79.

In other Netflix news, insider Gregory K. Peters sold 6,853 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the sale, the insider now owns 19,943 shares of the company’s stock, valued at approximately $3,276,435.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 1,000 shares of the stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $147.39, for a total transaction of $147,390.00. Following the sale, the director now directly owns 8,012 shares in the company, valued at approximately $1,180,888.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 430,458 shares of company stock worth $65,498,153. Insiders own 4.90% of the company’s stock.

Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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