Coatue Management LLC Grows Holdings in Netflix, Inc. (NASDAQ:NFLX)

Coatue Management LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLXGet Rating) by 54.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,438,956 shares of the Internet television network’s stock after purchasing an additional 507,704 shares during the quarter. Netflix accounts for 3.9% of Coatue Management LLC’s holdings, making the stock its 9th biggest position. Coatue Management LLC owned about 0.32% of Netflix worth $539,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new position in shares of Netflix in the fourth quarter worth approximately $28,659,000. Acadian Asset Management LLC increased its position in shares of Netflix by 24.9% in the fourth quarter. Acadian Asset Management LLC now owns 16,287 shares of the Internet television network’s stock worth $9,809,000 after acquiring an additional 3,252 shares in the last quarter. WealthShield Partners LLC purchased a new position in shares of Netflix in the fourth quarter worth approximately $237,000. Confluence Wealth Services Inc. purchased a new position in shares of Netflix in the fourth quarter worth approximately $595,000. Finally, Independent Wealth Network Inc. increased its position in shares of Netflix by 9.5% in the fourth quarter. Independent Wealth Network Inc. now owns 440 shares of the Internet television network’s stock worth $265,000 after acquiring an additional 38 shares in the last quarter. 75.52% of the stock is currently owned by institutional investors.

Netflix Stock Up 2.7 %

Shares of NASDAQ:NFLX opened at $233.57 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.75. Netflix, Inc. has a 12 month low of $162.71 and a 12 month high of $700.99. The firm has a market cap of $103.87 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.58 and a beta of 1.34. The company’s 50-day moving average price is $218.64 and its two-hundred day moving average price is $249.51.

Netflix (NASDAQ:NFLXGet Rating) last announced its quarterly earnings results on Tuesday, July 19th. The Internet television network reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.96 by $0.24. The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.03 billion. Netflix had a net margin of 16.42% and a return on equity of 30.07%. Netflix’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company posted $2.97 EPS. As a group, research analysts forecast that Netflix, Inc. will post 10.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Rosenblatt Securities lowered their price objective on shares of Netflix from $245.00 to $196.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. Barclays lowered their price objective on shares of Netflix from $275.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 6th. Guggenheim lowered their price objective on shares of Netflix from $350.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Citigroup lowered their price objective on shares of Netflix from $295.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Finally, Atlantic Securities decreased their target price on shares of Netflix from $280.00 to $211.00 and set a “neutral” rating for the company in a research report on Wednesday, July 20th. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has an average rating of “Hold” and a consensus price target of $308.74.

Netflix Company Profile

(Get Rating)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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