Foundations Investment Advisors LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,302 shares of the Internet television network’s stock after selling 982 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Netflix were worth $1,269,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Polen Capital Management LLC increased its holdings in Netflix by 53.9% in the third quarter. Polen Capital Management LLC now owns 7,332,431 shares of the Internet television network’s stock worth $1,726,348,000 after purchasing an additional 2,569,072 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Netflix by 21.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,405,142 shares of the Internet television network’s stock worth $2,690,289,000 after purchasing an additional 1,991,099 shares in the last quarter. Jennison Associates LLC increased its holdings in Netflix by 77.7% in the third quarter. Jennison Associates LLC now owns 2,601,128 shares of the Internet television network’s stock worth $612,410,000 after purchasing an additional 1,137,471 shares in the last quarter. Edgewood Management LLC increased its holdings in Netflix by 19.3% in the third quarter. Edgewood Management LLC now owns 6,057,299 shares of the Internet television network’s stock worth $1,426,130,000 after purchasing an additional 977,900 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Netflix in the third quarter worth approximately $187,599,000. 77.26% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Cowen set a $405.00 target price on Netflix in a report on Friday, December 9th. The Goldman Sachs Group boosted their price objective on Netflix from $225.00 to $230.00 and gave the company a “sell” rating in a report on Friday, January 20th. Rosenblatt Securities boosted their price objective on Netflix from $226.00 to $343.00 and gave the company a “neutral” rating in a report on Friday, January 20th. Loop Capital boosted their price objective on Netflix from $225.00 to $320.00 in a report on Tuesday, January 17th. Finally, Robert W. Baird boosted their price objective on Netflix from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Friday, January 20th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $343.13.
Netflix Stock Down 2.1 %
Netflix (NASDAQ:NFLX – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The Internet television network reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.35). Netflix had a net margin of 14.21% and a return on equity of 23.06%. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.85 billion. During the same period in the prior year, the company earned $1.33 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Netflix, Inc. will post 11.18 EPS for the current year.
In related news, Director Jay C. Hoag sold 3,698 shares of the stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $352.94, for a total transaction of $1,305,172.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.39% of the company’s stock.
Netflix Company Profile
Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.
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