Legacy Capital Group California Inc. Acquires 1,572 Shares of Netflix, Inc. (NASDAQ:NFLX)

Legacy Capital Group California Inc. raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 113.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,963 shares of the Internet television network’s stock after purchasing an additional 1,572 shares during the period. Netflix accounts for approximately 0.8% of Legacy Capital Group California Inc.’s investment portfolio, making the stock its 16th biggest position. Legacy Capital Group California Inc.’s holdings in Netflix were worth $2,641,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NFLX. State Street Corp grew its holdings in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the period. Geode Capital Management LLC boosted its position in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC grew its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC increased its holdings in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NFLX has been the topic of several research analyst reports. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Pivotal Research boosted their target price on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Argus increased their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Trading Down 1.8 %

NASDAQ:NFLX opened at $1,024.54 on Friday. The company has a market cap of $438.26 billion, a P/E ratio of 51.67, a P/E/G ratio of 2.16 and a beta of 1.27. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. 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 stock’s fifty day moving average price is $938.86 and its two-hundred day moving average price is $815.63.

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

Insider Activity

In related news, insider David A. Hyman sold 41,121 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,338,500. This represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by company insiders.

Netflix Company 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.