Fred Alger Management LLC Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Fred Alger Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 26.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 457,636 shares of the Internet television network’s stock after buying an additional 94,688 shares during the quarter. Netflix accounts for approximately 1.9% of Fred Alger Management LLC’s portfolio, making the stock its 11th biggest position. Fred Alger Management LLC’s holdings in Netflix were worth $407,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Clark Capital Management Group Inc. grew its position in Netflix by 15.3% in the 4th quarter. Clark Capital Management Group Inc. now owns 7,278 shares of the Internet television network’s stock valued at $6,487,000 after acquiring an additional 968 shares in the last quarter. Clear Street Derivatives LLC grew its holdings in shares of Netflix by 365.2% in the fourth quarter. Clear Street Derivatives LLC now owns 3,247 shares of the Internet television network’s stock valued at $2,894,000 after purchasing an additional 2,549 shares in the last quarter. Deutsche Bank AG increased its stake in Netflix by 5.1% during the 4th quarter. Deutsche Bank AG now owns 1,303,103 shares of the Internet television network’s stock worth $1,161,482,000 after buying an additional 63,534 shares during the period. Diligent Investors LLC lifted its holdings in Netflix by 17.7% during the 4th quarter. Diligent Investors LLC now owns 1,387 shares of the Internet television network’s stock worth $1,236,000 after buying an additional 209 shares in the last quarter. Finally, Dunhill Financial LLC boosted its position in Netflix by 59.9% in the 4th quarter. Dunhill Financial LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,027 shares of Netflix stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the sale, the chief executive officer now owns 12,781 shares of the company’s stock, valued at approximately $14,589,639.31. The trade was a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,530 shares of company stock worth $137,602,751. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the topic of several analyst reports. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Oppenheimer reiterated an “outperform” rating and issued a $1,200.00 price objective (up previously from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Arete Research upgraded shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Finally, Wedbush restated an “outperform” rating and issued a $1,200.00 price objective on shares of Netflix in a report on Monday. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,084.91.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,155.41 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $491.71 billion, a price-to-earnings ratio of 58.27, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The firm’s fifty day moving average price is $978.21 and its 200 day moving average price is $926.63. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,167.35.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the business posted $8.28 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix 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.