Davidson Investment Advisors increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,766 shares of the Internet television network’s stock after purchasing an additional 1,317 shares during the quarter. Netflix makes up approximately 1.3% of Davidson Investment Advisors’ holdings, making the stock its 23rd largest holding. Davidson Investment Advisors’ holdings in Netflix were worth $17,034,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. grew its holdings in Netflix by 1.5% in the 3rd 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. Price T Rowe Associates Inc. MD grew its holdings in Netflix by 21.2% in the 3rd 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. Polen Capital Management LLC grew its holdings in Netflix by 53.9% in the 3rd 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. Fisher Asset Management LLC grew its holdings in Netflix by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 6,686,275 shares of the Internet television network’s stock valued at $1,574,217,000 after buying an additional 137,972 shares during the period. Finally, Edgewood Management LLC grew its holdings in Netflix by 19.3% in the 3rd quarter. Edgewood Management LLC now owns 6,057,299 shares of the Internet television network’s stock valued at $1,426,130,000 after buying an additional 977,900 shares during the period. Hedge funds and other institutional investors own 77.26% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Canaccord Genuity Group lifted their price objective on Netflix from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 20th. The Goldman Sachs Group lifted their price objective on Netflix from $225.00 to $230.00 and gave the stock a “sell” rating in a report on Friday, January 20th. Argus lifted their price objective on Netflix from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, January 23rd. Cowen lifted their price objective on Netflix from $405.00 to $440.00 in a report on Friday, January 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of “Hold” and an average price target of $344.00.
Insider Activity
In related news, Director Jay C. Hoag sold 3,698 shares of the company’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $352.94, for a total transaction of $1,305,172.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.39% of the stock is currently owned by company insiders.
Netflix Trading Down 2.6 %
Shares of NASDAQ NFLX traded down $8.74 during mid-day trading on Monday, hitting $329.89. 4,336,826 shares of the company traded hands, compared to its average volume of 7,383,730. Netflix, Inc. has a 1 year low of $162.71 and a 1 year high of $379.43. The stock has a market capitalization of $146.92 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 1.57 and a beta of 1.27. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $329.70 and a two-hundred day moving average of $307.29.
Netflix (NASDAQ:NFLX – Get Rating) last announced its earnings results on Thursday, January 19th. The Internet television network reported $0.12 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.35). Netflix had a net margin of 14.21% and a return on equity of 23.06%. The company 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 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix, Inc. will post 11.31 earnings per share for the current fiscal year.
About Netflix
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.