Primecap Management Co. CA Raises Holdings in Netflix, Inc. (NFLX)

Primecap Management Co. CA raised its position in Netflix, Inc. (NASDAQ:NFLX) by 14.1% in the third quarter, Holdings Channel reports. The institutional investor owned 70,450 shares of the Internet television network’s stock after purchasing an additional 8,700 shares during the period. Primecap Management Co. CA’s holdings in Netflix were worth $26,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Berkeley Capital Partners LLC increased its holdings in shares of Netflix by 17.3% in the second quarter. Berkeley Capital Partners LLC now owns 1,008 shares of the Internet television network’s stock valued at $273,000 after purchasing an additional 149 shares during the period. Capstone Financial Advisors Inc. increased its holdings in shares of Netflix by 17.8% in the second quarter. Capstone Financial Advisors Inc. now owns 1,006 shares of the Internet television network’s stock valued at $394,000 after purchasing an additional 152 shares during the period. Cornerstone Advisors Inc. increased its holdings in shares of Netflix by 9.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,740 shares of the Internet television network’s stock valued at $681,000 after purchasing an additional 153 shares during the period. Cobblestone Capital Advisors LLC NY increased its holdings in shares of Netflix by 22.1% in the second quarter. Cobblestone Capital Advisors LLC NY now owns 855 shares of the Internet television network’s stock valued at $335,000 after purchasing an additional 155 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in shares of Netflix by 30.6% in the third quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock valued at $253,000 after purchasing an additional 158 shares during the period. Institutional investors own 74.07% of the company’s stock.

NFLX opened at $294.69 on Monday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.66. The firm has a market cap of $124.78 billion, a price-to-earnings ratio of 235.75, a PEG ratio of 3.60 and a beta of 1.13. Netflix, Inc. has a one year low of $178.38 and a one year high of $423.21.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.21. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.99 billion. Netflix had a return on equity of 29.52% and a net margin of 8.48%. Netflix’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. On average, equities analysts anticipate that Netflix, Inc. will post 2.65 earnings per share for the current year.

In other Netflix news, CEO Reed Hastings sold 78,092 shares of the business’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $266.87, for a total transaction of $20,840,412.04. Following the sale, the chief executive officer now directly owns 78,092 shares in the company, valued at $20,840,412.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $376.61, for a total value of $376,610.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares in the company, valued at $376,610. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 334,150 shares of company stock worth $108,858,971. 4.29% of the stock is owned by company insiders.

A number of research analysts have recently issued reports on the company. Credit Suisse Group reissued a “buy” rating and issued a $470.00 target price on shares of Netflix in a report on Monday, October 1st. Goldman Sachs Group set a $470.00 target price on Netflix and gave the company a “buy” rating in a report on Tuesday, October 2nd. Macquarie set a $388.00 target price on Netflix and gave the company a “buy” rating in a report on Wednesday, September 26th. Sanford C. Bernstein reissued a “buy” rating and issued a $465.00 target price on shares of Netflix in a report on Wednesday, October 17th. Finally, Nomura reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Netflix in a report on Wednesday, October 17th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $376.99.

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Netflix Company Profile

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

Further Reading: What is insider trading?

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX).

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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