Platinum Investment Management Ltd. Purchases Shares of 18,503 Netflix, Inc. (NASDAQ:NFLX)
Platinum Investment Management Ltd. purchased a new stake in Netflix, Inc. (NASDAQ:NFLX – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,503 shares of the Internet television network’s stock, valued at approximately $4,356,000.
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Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted 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 purchasing an additional 1,991,099 shares during the period. Primecap Management Co. CA raised its position in shares of Netflix by 236.3% during the 3rd quarter. Primecap Management Co. CA now owns 135,910 shares of the Internet television network’s stock valued at $31,999,000 after buying an additional 95,500 shares in the last quarter. Palestra Capital Management LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at $116,204,000. Pearl River Capital LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at $1,563,000. Finally, Permit Capital LLC raised its position in shares of Netflix by 20.0% during the 3rd quarter. Permit Capital LLC now owns 366 shares of the Internet television network’s stock valued at $86,000 after buying an additional 61 shares in the last quarter. 77.26% of the stock is owned by institutional investors.
Insider Activity
In other Netflix news, Director Jay C. Hoag sold 3,698 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $352.94, for a total transaction of $1,305,172.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.39% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on NFLX. Wedbush raised their price objective on shares of Netflix from $400.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, January 17th. Bank of America restated a “buy” rating and set a $370.00 price objective on shares of Netflix in a research report on Tuesday, November 15th. Wells Fargo & Company upgraded shares of Netflix from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $300.00 to $400.00 in a research report on Friday, December 9th. The Goldman Sachs Group lifted their target price on shares of Netflix from $225.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, January 20th. Finally, Barclays lifted their target price on shares of Netflix from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Friday, January 20th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Netflix has an average rating of “Hold” and an average target price of $343.00.
Netflix Stock Up 0.5 %
NFLX opened at $313.56 on Tuesday. 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 firm has a 50 day moving average price of $334.07 and a 200-day moving average price of $288.47. Netflix, Inc. has a twelve month low of $162.71 and a twelve month high of $396.50. The stock has a market capitalization of $139.64 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 1.46 and a beta of 1.26.
Netflix (NASDAQ:NFLX – Get Rating) last released its quarterly earnings data on Thursday, January 19th. The Internet television network reported $0.12 earnings per share 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 previous year, the firm earned $1.33 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast that Netflix, Inc. will post 11.18 earnings per share for the current 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.
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