Franklin Resources Inc. Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Franklin Resources Inc. raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,459,019 shares of the Internet television network’s stock after purchasing an additional 222,480 shares during the period. Franklin Resources Inc. owned approximately 0.34% of Netflix worth $1,300,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NFLX. Principal Financial Group Inc. boosted its stake in shares of Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after buying an additional 198,148 shares during the last quarter. Tradition Wealth Management LLC raised its position in shares of Netflix by 11.1% during the 3rd quarter. Tradition Wealth Management LLC now owns 859 shares of the Internet television network’s stock valued at $609,000 after purchasing an additional 86 shares during the period. Cobblestone Capital Advisors LLC NY boosted its holdings in Netflix by 5.6% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 681 shares of the Internet television network’s stock worth $483,000 after buying an additional 36 shares during the period. Erste Asset Management GmbH purchased a new stake in Netflix in the 3rd quarter worth $145,252,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in Netflix by 776.3% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 333 shares of the Internet television network’s stock valued at $236,000 after acquiring an additional 295 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 10,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $978.41, for a total transaction of $9,784,100.00. Following the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,611,311.31. This represents a 73.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,583 shares of company stock valued at $279,611,567. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NFLX. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. FBN Securities initiated coverage on shares of Netflix in a research note on Thursday. They issued an “outperform” rating and a $1,165.00 price objective for the company. KeyCorp upped their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Stock Down 4.4 %

NASDAQ NFLX opened at $933.85 on Monday. 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, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The business’s fifty day simple moving average is $971.74 and its 200-day simple moving average is $869.42. The firm 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.

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

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.