Convergence Investment Partners LLC Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Convergence Investment Partners LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 68.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,429 shares of the Internet television network’s stock after acquiring an additional 984 shares during the quarter. Convergence Investment Partners LLC’s holdings in Netflix were worth $2,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its position in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC lifted its position in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC lifted its position 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 buying an additional 316,594 shares during the period. International Assets Investment Management LLC lifted its position in Netflix by 116,620.0% during 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 buying an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP lifted its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Oppenheimer upped their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned 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 $1,021.70.

Insiders Place Their Bets

In other Netflix 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 transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 685 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,009.57, for a total value of $691,555.45. Following the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,726,322.87. This represents a 15.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,220 shares of company stock valued at $289,856,164 in the last quarter. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,035.85 on Wednesday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The business has a 50 day moving average price of $934.75 and a two-hundred day moving average price of $812.56. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $443.10 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 2.19 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates 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 business posted $2.11 EPS. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.