Pictet Asset Management Ltd. Has $74.24 Million Stake in Netflix, Inc. (NFLX)

Pictet Asset Management Ltd. raised its position in Netflix, Inc. (NASDAQ:NFLX) by 41.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,239 shares of the Internet television network’s stock after buying an additional 148,248 shares during the period. Pictet Asset Management Ltd. owned 0.12% of Netflix worth $74,236,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Trust Advisors LP increased its position in Netflix by 6.4% in the third quarter. First Trust Advisors LP now owns 1,958,697 shares of the Internet television network’s stock valued at $193,030,000 after buying an additional 117,557 shares during the last quarter. Sigma Planning Corp increased its position in Netflix by 0.5% in the third quarter. Sigma Planning Corp now owns 10,692 shares of the Internet television network’s stock valued at $1,054,000 after buying an additional 54 shares during the last quarter. Girard Partners LTD. increased its position in Netflix by 44.4% in the first quarter. Girard Partners LTD. now owns 3,786 shares of the Internet television network’s stock valued at $560,000 after buying an additional 1,165 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Netflix by 0.4% in the third quarter. Mutual of America Capital Management LLC now owns 50,063 shares of the Internet television network’s stock valued at $4,934,000 after buying an additional 204 shares during the last quarter. Finally, Hartford Investment Management Co. increased its position in Netflix by 1.4% in the third quarter. Hartford Investment Management Co. now owns 102,913 shares of the Internet television network’s stock valued at $10,142,000 after buying an additional 1,406 shares during the last quarter. 82.78% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 0.41% during mid-day trading on Friday, hitting $152.38. The stock had a trading volume of 6,909,705 shares. Netflix, Inc. has a 12-month low of $84.50 and a 12-month high of $166.87. The company’s 50 day moving average price is $158.44 and its 200 day moving average price is $142.71. The stock has a market cap of $65.67 billion, a P/E ratio of 197.13 and a beta of 0.96.

Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, April 17th. The Internet television network reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. Netflix had a net margin of 3.55% and a return on equity of 12.73%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS. Equities research analysts predict that Netflix, Inc. will post $1.04 EPS for the current fiscal year.

WARNING: This piece was posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2017/06/16/pictet-asset-management-ltd-purchases-148248-shares-of-netflix-inc-nflx-updated-updated-updated.html.

NFLX has been the topic of several research reports. Zacks Investment Research upgraded Netflix from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a report on Tuesday, February 21st. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Netflix in a report on Tuesday, February 28th. Vetr downgraded Netflix from a “hold” rating to a “sell” rating and set a $137.92 price target on the stock. in a report on Monday, March 13th. Wedbush reiterated a “sell” rating and issued a $68.00 price target on shares of Netflix in a 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 report on Tuesday, March 14th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $148.45.

In related news, insider Gregory K. Peters sold 6,853 shares of Netflix stock in a transaction on 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 transaction, the insider now owns 19,943 shares in the company, valued at approximately $3,276,435.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $147.39, for a total transaction of $147,390.00. Following the transaction, the director now owns 8,012 shares in the company, valued at approximately $1,180,888.68. The disclosure for this sale can be found here. Insiders have sold a total of 404,383 shares of company stock worth $60,894,497 in the last 90 days. Company 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.

Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply