Prudential PLC Acquires 5,491 Shares of Netflix, Inc. (NASDAQ:NFLX)

Prudential PLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 19.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 34,134 shares of the Internet television network’s stock after acquiring an additional 5,491 shares during the period. Prudential PLC’s holdings in Netflix were worth $31,831,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Brighton Jones LLC lifted its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after buying an additional 144 shares during the last quarter. BIP Wealth LLC grew its holdings in Netflix by 23.8% during the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock worth $403,000 after acquiring an additional 87 shares during the period. Advisors Capital Management LLC raised its position in Netflix by 2.1% during the fourth quarter. Advisors Capital Management LLC now owns 8,779 shares of the Internet television network’s stock valued at $7,825,000 after acquiring an additional 178 shares in the last quarter. Finally, Granite Investment Partners LLC acquired a new position in Netflix in the fourth quarter valued at approximately $243,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Up 0.6%

Shares of NFLX stock opened at $1,218.31 on Tuesday. The company has a market capitalization of $517.70 billion, a P/E ratio of 51.91, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $1,232.24 and its two-hundred day moving average is $1,096.90. Netflix, Inc. has a twelve month low of $627.07 and a twelve month high of $1,341.15.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $4.88 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total value of $795,428.85. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The stock was 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 $17,604,284.16. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,307 shares of company stock valued at $179,443,809 over the last 90 days. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NFLX. KeyCorp raised their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Barclays reaffirmed a “sell” rating and issued a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. UBS Group restated a “market underperform” rating on shares of Netflix in a research report on Saturday, July 19th. The Goldman Sachs Group upped their price target on Netflix from $1,000.00 to $1,140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company raised their price objective on Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,297.66.

About Netflix

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.