Pictet & Cie Europe SA boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,013 shares of the Internet television network’s stock after buying an additional 660 shares during the quarter. Pictet & Cie Europe SA’s holdings in Netflix were worth $2,144,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc boosted its position in Netflix by 59.3% during the fourth quarter. Versant Capital Management Inc now owns 94 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 35 shares during the period. Clarfeld Financial Advisors LLC bought a new position in Netflix during the fourth quarter worth about $27,000. Pearl River Capital LLC bought a new position in Netflix during the fourth quarter worth about $30,000. NuWave Investment Management LLC boosted its position in Netflix by 338.5% during the fourth quarter. NuWave Investment Management LLC now owns 114 shares of the Internet television network’s stock worth $31,000 after purchasing an additional 88 shares during the period. Finally, Citizens Financial Group Inc RI boosted its position in Netflix by 750.0% during the fourth quarter. Citizens Financial Group Inc RI now owns 136 shares of the Internet television network’s stock worth $36,000 after purchasing an additional 120 shares during the period. Institutional investors own 77.06% of the company’s stock.
NFLX has been the subject of a number of research reports. JPMorgan Chase & Co. set a $435.00 target price on shares of Netflix and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. SunTrust Banks reiterated a “buy” rating and set a $402.00 target price on shares of Netflix in a research report on Wednesday, March 27th. Royal Bank of Canada reiterated a “buy” rating and set a $480.00 target price on shares of Netflix in a research report on Wednesday, March 20th. Stifel Nicolaus reiterated a “buy” rating and set a $400.00 target price on shares of Netflix in a research report on Monday, April 8th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $440.00 price target on shares of Netflix in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $385.03.
In other Netflix news, CEO Reed Hastings sold 57,414 shares of Netflix stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the transaction, the chief executive officer now directly owns 57,414 shares of the company’s stock, valued at $20,030,596.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 166,838 shares of company stock worth $60,415,372 over the last three months. Insiders own 4.29% of the company’s stock.
NFLX traded down $5.59 on Wednesday, reaching $349.19. The company had a trading volume of 5,280,524 shares, compared to its average volume of 8,637,423. The company has a market capitalization of $154.95 billion, a P/E ratio of 130.29, a P/E/G ratio of 3.54 and a beta of 1.33. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.61 and a quick ratio of 0.61. Netflix, Inc. has a 52-week low of $231.23 and a 52-week high of $423.21.
Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.19. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.50 billion. Netflix had a net margin of 7.61% and a return on equity of 24.75%. Netflix’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, equities analysts anticipate that Netflix, Inc. will post 3.33 earnings per share for the current year.
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Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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