Sterling Capital Management LLC Acquires 672 Shares of Netflix, Inc. (NASDAQ:NFLX)

by · The Cerbat Gem

Sterling Capital Management LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 2.6% in the fourth quarter, HoldingsChannel reports. The fund owned 26,735 shares of the Internet television network’s stock after buying an additional 672 shares during the period. Sterling Capital Management LLC’s holdings in Netflix were worth $23,829,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Act Two Investors LLC purchased a new position in Netflix in the 4th quarter worth $250,000. Coign Capital Advisors LLC bought a new position in shares of Netflix during the fourth quarter valued at about $1,060,000. Quinn Opportunity Partners LLC purchased a new position in shares of Netflix in the fourth quarter worth about $5,348,000. Tandem Wealth Advisors LLC bought a new stake in shares of Netflix in the 4th quarter valued at about $230,000. Finally, Argent Trust Co boosted its holdings in Netflix by 23.7% during the 4th quarter. Argent Trust Co now owns 4,225 shares of the Internet television network’s stock valued at $3,766,000 after acquiring an additional 809 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NFLX. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $715.00 to $900.00 in a report on Wednesday, January 22nd. Morgan Stanley raised their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, KeyCorp cut their target price on Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,017.31.

Get Our Latest Research Report on NFLX

Netflix Trading Down 2.6 %

Shares of NASDAQ NFLX opened at $921.17 on Friday. The firm’s 50 day moving average price is $961.62 and its 200-day moving average price is $882.89. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $394.04 billion, a PE ratio of 46.45, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings data 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. 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 period in the prior year, the firm posted $2.11 EPS. On average, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock valued at $267,919,297 over the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Company Profile

(Free Report)

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.

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