Sound Income Strategies LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,908 shares of the Internet television network’s stock after acquiring an additional 759 shares during the period. Sound Income Strategies LLC’s holdings in Netflix were worth $2,037,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Netflix by 1.5% in the third quarter. Vanguard Group Inc. now owns 35,119,551 shares of the Internet television network’s stock valued at $8,268,547,000 after buying an additional 534,950 shares during the period. State Street Corp lifted its stake in shares of Netflix by 2.2% in the second quarter. State Street Corp now owns 17,249,083 shares of the Internet television network’s stock valued at $3,016,347,000 after buying an additional 364,895 shares during the period. FMR LLC lifted its stake in shares of Netflix by 4.5% in the second quarter. FMR LLC now owns 16,864,057 shares of the Internet television network’s stock valued at $2,949,018,000 after buying an additional 725,384 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $2,690,289,000 after buying an additional 1,991,099 shares during the period. Finally, Polen Capital Management LLC lifted its stake in shares of 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 valued at $1,726,348,000 after buying an additional 2,569,072 shares during the period. 77.26% of the stock is currently owned by institutional investors.
Netflix Trading Down 2.1 %
Shares of NASDAQ NFLX traded down $6.56 during midday trading on Friday, reaching $303.50. 6,918,777 shares of the stock were exchanged, compared to its average volume of 7,860,497. The business has a 50-day simple moving average of $334.97 and a two-hundred day simple moving average of $292.19. The company has a market capitalization of $135.16 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 1.37 and a beta of 1.26. Netflix, Inc. has a 12 month low of $162.71 and a 12 month high of $396.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.17 and a quick ratio of 1.17.
Insider Activity at Netflix
In related news, Director Jay C. Hoag sold 3,698 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $352.94, for a total value of $1,305,172.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.39% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on NFLX. Rosenblatt Securities raised their price target on shares of Netflix from $226.00 to $343.00 and gave the stock a “neutral” rating in a research note on Friday, January 20th. Jefferies Financial Group raised their price target on shares of Netflix from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, February 6th. Pivotal Research restated a “buy” rating and set a $400.00 price target (up previously from $375.00) on shares of Netflix in a research note on Friday, January 20th. Citigroup raised their price target on shares of Netflix from $395.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Cfra upgraded shares of Netflix from a “sell” rating to a “buy” rating and set a $310.00 price target for the company in a research note on Thursday, December 29th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Netflix presently has an average rating of “Hold” and a consensus target price of $343.13.
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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