Victory Capital Management Inc. lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 86.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,744 shares of the Internet television network’s stock after buying an additional 52,304 shares during the period. Victory Capital Management Inc.’s holdings in Netflix were worth $40,200,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in Netflix by 17,848.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,931,481 shares of the Internet television network’s stock valued at $89,000 after purchasing an additional 23,798,143 shares during the last quarter. Norges Bank purchased a new position in Netflix in the fourth quarter valued at about $1,209,406,000. Harris Associates L P boosted its holdings in Netflix by 90.8% in the fourth quarter. Harris Associates L P now owns 3,109,548 shares of the Internet television network’s stock valued at $832,301,000 after purchasing an additional 1,479,651 shares during the last quarter. Jennison Associates LLC boosted its holdings in Netflix by 9.0% in the fourth quarter. Jennison Associates LLC now owns 9,598,888 shares of the Internet television network’s stock valued at $2,569,238,000 after purchasing an additional 792,338 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Netflix by 186.3% in the fourth quarter. Two Sigma Advisers LP now owns 763,935 shares of the Internet television network’s stock valued at $204,475,000 after purchasing an additional 497,137 shares during the last quarter. 76.08% of the stock is owned by institutional investors.
In other news, Director Anne M. Sweeney sold 1,649 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $370.00, for a total transaction of $610,130.00. Following the sale, the director now directly owns 609 shares in the company, valued at approximately $225,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 56,966 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $370.74, for a total value of $21,119,574.84. Following the sale, the chief executive officer now owns 56,966 shares in the company, valued at $21,119,574.84. The disclosure for this sale can be found here. Insiders have sold a total of 165,491 shares of company stock worth $60,694,221 over the last quarter. Insiders own 4.29% of the company’s stock.
A number of research analysts recently commented on NFLX shares. Barclays set a $375.00 price target on Netflix and gave the company a “buy” rating in a report on Wednesday, April 17th. SunTrust Banks reissued a “buy” rating on shares of Netflix in a report on Friday, April 12th. Wedbush increased their price target on Netflix from $150.00 to $165.00 and gave the company an “underperform” rating in a report on Friday, January 18th. ValuEngine raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, Morgan Stanley increased their price target on Netflix from $430.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, January 18th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $385.03.
Shares of Netflix stock traded up $8.72 on Thursday, reaching $363.71. 180,906 shares of the company were exchanged, compared to its average volume of 8,980,001. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $150.95 billion, a price-to-earnings ratio of 135.53, a PEG ratio of 3.44 and a beta of 1.33. Netflix, Inc. has a 1-year low of $231.23 and a 1-year high of $423.21.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.19. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Sell-side analysts predict that Netflix, Inc. will post 3.35 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “Victory Capital Management Inc. Has $40.20 Million Stake in Netflix, Inc. (NFLX)” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2019/05/16/victory-capital-management-inc-has-40-20-million-stake-in-netflix-inc-nflx.html.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
Read More: Why do company’s buyback their stock?
Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.