TimesSquare Capital Management LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 24.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,005 shares of the Internet television network’s stock after acquiring an additional 3,530 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Netflix were worth $3,456,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of NFLX. Navellier & Associates Inc increased its stake in shares of Netflix by 8.4% in the fourth quarter. Navellier & Associates Inc now owns 3,991 shares of the Internet television network’s stock worth $766,000 after buying an additional 309 shares during the period. Assetmark Inc. increased its stake in shares of Netflix by 1,148.5% in the fourth quarter. Assetmark Inc. now owns 14,395 shares of the Internet television network’s stock worth $2,763,000 after buying an additional 13,242 shares during the period. Arthur M. Cohen & Associates LLC purchased a new position in shares of Netflix in the fourth quarter worth $1,082,000. ARK Investment Management LLC increased its stake in shares of Netflix by 47.0% in the fourth quarter. ARK Investment Management LLC now owns 139,238 shares of the Internet television network’s stock worth $26,728,000 after buying an additional 44,542 shares during the period. Finally, Advantage Investment Management LLC increased its stake in shares of Netflix by 927.4% in the fourth quarter. Advantage Investment Management LLC now owns 1,387 shares of the Internet television network’s stock worth $266,000 after buying an additional 1,252 shares during the period. 81.64% of the stock is currently owned by hedge funds and other institutional investors.
In other Netflix news, insider Gregory K. Peters sold 9,618 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $325.00, for a total value of $3,125,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Reed Hastings sold 91,861 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $189.03, for a total value of $17,364,484.83. Following the completion of the transaction, the chief executive officer now owns 91,861 shares of the company’s stock, valued at $17,364,484.83. The disclosure for this sale can be found here. Insiders sold a total of 472,789 shares of company stock valued at $116,026,169 over the last 90 days. 4.90% of the stock is currently owned by corporate insiders.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, January 22nd. The Internet television network reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Netflix had a net margin of 4.78% and a return on equity of 17.20%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. analysts predict that Netflix, Inc. will post 2.73 earnings per share for the current fiscal year.
NFLX has been the topic of several analyst reports. MKM Partners lifted their target price on shares of Netflix from $245.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Wedbush set a $93.00 price objective on shares of Netflix and gave the company a “sell” rating in a research report on Friday, January 19th. Goldman Sachs Group set a $315.00 price objective on shares of Netflix and gave the company a “buy” rating in a research report on Friday, January 19th. Bank of America boosted their price objective on shares of Netflix from $225.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Finally, Macquarie raised shares of Netflix from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $200.00 to $220.00 in a research report on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Netflix has a consensus rating of “Buy” and an average price target of $244.79.
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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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