Centaurus Financial Inc. increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,770 shares of the Internet television network’s stock after buying an additional 323 shares during the quarter. Centaurus Financial Inc.’s holdings in Netflix were worth $652,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Polen Capital Management LLC raised its position in Netflix by 53.9% in the 3rd quarter. Polen Capital Management LLC now owns 7,332,431 shares of the Internet television network’s stock valued at $1,726,348,000 after purchasing an additional 2,569,072 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Netflix by 21.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 11,405,142 shares of the Internet television network’s stock valued at $2,690,289,000 after purchasing an additional 1,991,099 shares during the last quarter. Jennison Associates LLC raised its position in Netflix by 77.7% in the 3rd quarter. Jennison Associates LLC now owns 2,601,128 shares of the Internet television network’s stock valued at $612,410,000 after purchasing an additional 1,137,471 shares during the last quarter. Edgewood Management LLC raised its position in Netflix by 19.3% in the 3rd quarter. Edgewood Management LLC now owns 6,057,299 shares of the Internet television network’s stock valued at $1,426,130,000 after purchasing an additional 977,900 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Netflix in the 3rd quarter valued at $187,599,000. Institutional investors own 77.26% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. Canaccord Genuity Group lifted their price objective on Netflix from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 20th. JPMorgan Chase & Co. lifted their target price on Netflix from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, January 20th. New Street Research initiated coverage on Netflix in a research note on Wednesday, January 4th. They issued a “neutral” rating and a $304.00 target price for the company. Finally, StockNews.com initiated coverage on Netflix in a research note on Thursday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Netflix has an average rating of “Hold” and an average target price of $343.13.
Netflix Stock Performance
Netflix (NASDAQ:NFLX – Get Rating) last released its earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.35). Netflix had a return on equity of 23.06% and a net margin of 14.21%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.85 billion. During the same quarter in the previous year, the company posted $1.33 EPS. The business’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Netflix, Inc. will post 11.18 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Jay C. Hoag sold 3,698 shares of the company’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $352.94, for a total transaction of $1,305,172.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.39% of the stock is currently owned by corporate insiders.
Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.
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