Lord Abbett & CO. LLC Acquires 30,739 Shares of Netflix, Inc. (NASDAQ:NFLX)

Lord Abbett & CO. LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.7% in the first quarter, HoldingsChannel reports. The firm owned 319,155 shares of the Internet television network’s stock after buying an additional 30,739 shares during the quarter. Netflix makes up 1.1% of Lord Abbett & CO. LLC’s investment portfolio, making the stock its 13th biggest position. Lord Abbett & CO. LLC’s holdings in Netflix were worth $297,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fullcircle Wealth LLC raised its position in Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network’s stock valued at $344,000 after purchasing an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. grew its holdings in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after acquiring an additional 10 shares during the period. Continuum Wealth Advisors LLC grew its holdings in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network’s stock worth $219,000 after acquiring an additional 10 shares during the period. Financial Enhancement Group LLC grew its holdings in shares of Netflix by 2.5% during the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network’s stock worth $384,000 after acquiring an additional 10 shares during the period. Finally, Saxony Capital Management LLC grew its holdings in shares of Netflix by 1.4% during the 1st quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network’s stock worth $659,000 after acquiring an additional 10 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Moffett Nathanson restated a “buy” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Sanford C. Bernstein increased their target price on Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Wedbush reissued an “outperform” rating and set a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a report on Monday, July 14th. JPMorgan Chase & Co. raised their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Finally, Robert W. Baird raised their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,297.66.

Netflix Price Performance

Shares of NFLX opened at $1,204.44 on Thursday. Netflix, Inc. has a 1-year low of $648.70 and a 1-year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $511.80 billion, a PE ratio of 51.32, a price-to-earnings-growth ratio of 2.06 and a beta of 1.59. The company’s fifty day moving average price is $1,231.68 and its 200-day moving average price is $1,098.52.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the company earned $4.88 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other news, insider Cletus R. Willems sold 238 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer owned 15,168 shares of the company’s stock, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,307 shares of company stock valued at $179,443,809 in the last 90 days. 1.37% of the stock is currently owned by insiders.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.