Netflix, Inc. (NASDAQ:NFLX) Holdings Boosted by Jericho Capital Asset Management L.P.

Jericho Capital Asset Management L.P. raised its position in Netflix, Inc. (NASDAQ:NFLX) by 30.2% in the 4th quarter, Holdings Channel reports. The fund owned 819,000 shares of the Internet television network’s stock after acquiring an additional 190,000 shares during the period. Netflix accounts for approximately 10.4% of Jericho Capital Asset Management L.P.’s holdings, making the stock its 2nd biggest position. Jericho Capital Asset Management L.P.’s holdings in Netflix were worth $729,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the period. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $32,000. Newton One Investments LLC acquired a new position in Netflix during the fourth quarter worth $34,000. Pineridge Advisors LLC raised its position in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. The trade was a 56.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,495 shares of company stock worth $268,176,922. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Guggenheim reiterated a “buy” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Barclays boosted their price target on Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Monday, April 21st. Evercore ISI raised their price objective on Netflix from $1,100.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. The Goldman Sachs Group boosted their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Wedbush lifted their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,072.12.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,110.38 on Tuesday. 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 stock has a market capitalization of $472.55 billion, a price-to-earnings ratio of 55.99, a PEG ratio of 2.12 and a beta of 1.55. The stock’s fifty day simple moving average is $957.26 and its 200 day simple moving average is $908.81. Netflix, Inc. has a 52-week low of $544.25 and a 52-week high of $1,114.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the previous year, the firm posted $8.28 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

About Netflix

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.