Cannell & Spears LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Cannell & Spears LLC purchased a new position in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 226 shares of the Internet television network’s stock, valued at approximately $201,000.

A number of other hedge funds also recently modified their holdings of NFLX. Principal Financial Group Inc. boosted its holdings in shares of Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after buying an additional 198,148 shares during the period. Benjamin Edwards Inc. boosted its stake in Netflix by 3,971.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 10,587 shares of the Internet television network’s stock worth $7,509,000 after purchasing an additional 10,327 shares during the period. Hilltop Holdings Inc. increased its holdings in Netflix by 100.0% during the 3rd quarter. Hilltop Holdings Inc. now owns 5,555 shares of the Internet television network’s stock worth $3,940,000 after purchasing an additional 2,778 shares in the last quarter. HighVista Strategies LLC raised its stake in shares of Netflix by 11.1% in the 3rd quarter. HighVista Strategies LLC now owns 2,000 shares of the Internet television network’s stock valued at $1,419,000 after purchasing an additional 200 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Netflix by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,266,649 shares of the Internet television network’s stock valued at $898,445,000 after purchasing an additional 14,930 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent research reports. Argus lifted their target price on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Arete Research raised shares of Netflix to a “hold” rating in a research report on Thursday, January 23rd. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Citigroup boosted their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.02.

Netflix Stock Performance

NASDAQ NFLX opened at $928.38 on Wednesday. The firm has a 50-day moving average price of $974.40 and a two-hundred day moving average price of $872.78. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a market capitalization of $397.12 billion, a P/E ratio of 46.82, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the company posted $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is owned by corporate insiders.

Netflix Profile

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.