Arrowstreet Capital Limited Partnership Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Arrowstreet Capital Limited Partnership lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 59.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,301,098 shares of the Internet television network’s stock after acquiring an additional 856,307 shares during the period. Netflix accounts for about 1.6% of Arrowstreet Capital Limited Partnership’s investment portfolio, making the stock its 5th largest holding. Arrowstreet Capital Limited Partnership owned about 0.54% of Netflix worth $2,051,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its holdings in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the period. Newton One Investments LLC purchased a new stake in shares of Netflix in the 4th quarter worth approximately $34,000. Pineridge Advisors LLC increased its position in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Netflix during the third quarter valued at $38,000. Finally, Princeton Global Asset Management LLC boosted its holdings in Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after acquiring an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,583 shares of company stock valued at $279,611,567. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Loop Capital restated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Wedbush restated an “outperform” rating and set a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Oppenheimer upped their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and raised their price target for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,021.02.

Netflix Price Performance

NASDAQ:NFLX opened at $933.85 on Friday. The business’s 50-day simple moving average is $971.74 and its two-hundred day simple moving average is $868.10. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The stock has a market cap of $399.46 billion, a PE ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the company earned $2.11 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.