QRG Capital Management Inc. Buys 6,518 Shares of Netflix, Inc. (NASDAQ:NFLX)

QRG Capital Management Inc. increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,563 shares of the Internet television network’s stock after buying an additional 6,518 shares during the quarter. Netflix comprises approximately 0.9% of QRG Capital Management Inc.’s holdings, making the stock its 14th largest holding. QRG Capital Management Inc.’s holdings in Netflix were worth $85,177,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp lifted its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its position in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. Wellington Management Group LLP lifted its position in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Netflix by 2.8% in the third quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after buying an additional 123,987 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a research report on Thursday, January 23rd. Macquarie lifted their target price on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $990.06 on Thursday. The firm has a market capitalization of $423.51 billion, a P/E ratio of 49.93, a PEG ratio of 2.12 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average price of $945.07 and a 200 day moving average price of $827.46. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the company earned $2.11 EPS. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.