Panoramic Capital LLC Purchases Shares of 8,832 Netflix, Inc. (NASDAQ:NFLX)

Panoramic Capital LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,832 shares of the Internet television network’s stock, valued at approximately $7,872,000. Netflix comprises 4.2% of Panoramic Capital LLC’s portfolio, making the stock its 3rd largest position.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. Proficio Capital Partners LLC grew its holdings in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after acquiring an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after acquiring an additional 570,674 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Arete Research upgraded shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Barclays boosted their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,084.91.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director now directly owns 79,040 shares in the company, valued at $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,624,746.55. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,868 shares of company stock worth $138,483,256. Company insiders own 1.76% of the company’s stock.

Netflix Trading Up 2.6%

Shares of NFLX opened at $1,138.44 on Wednesday. The business’s 50-day moving average price is $991.99 and its 200 day moving average price is $938.19. The stock has a market capitalization of $484.49 billion, a P/E ratio of 57.41, a P/E/G ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,164.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the business posted $8.28 EPS. Analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.