Courier Capital LLC Purchases New Shares in Netflix, Inc. (NASDAQ:NFLX)

Courier Capital LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 513 shares of the Internet television network’s stock, valued at approximately $250,000.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in Netflix by 3.1% in the 2nd quarter. State Street Corp now owns 16,699,906 shares of the Internet television network’s stock valued at $7,356,142,000 after purchasing an additional 504,416 shares during the period. Morgan Stanley lifted its position in shares of Netflix by 11.1% during the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock valued at $1,906,005,000 after acquiring an additional 644,162 shares during the period. Norges Bank bought a new stake in shares of Netflix during the 4th quarter valued at $1,501,762,000. Northern Trust Corp lifted its position in shares of Netflix by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock valued at $1,749,712,000 after acquiring an additional 96,938 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Netflix by 24.3% during the 3rd quarter. Jennison Associates LLC now owns 3,878,293 shares of the Internet television network’s stock valued at $1,464,444,000 after acquiring an additional 759,378 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NFLX. Morgan Stanley upped their target price on Netflix from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Bank of America upped their target price on Netflix from $585.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. KeyCorp upped their target price on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. DZ Bank upgraded Netflix from a “hold” rating to a “buy” rating and set a $600.00 price objective for the company in a research report on Thursday, January 25th. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $583.18.

Netflix Trading Down 2.5 %

Shares of NFLX stock opened at $613.53 on Thursday. The stock has a market cap of $265.51 billion, a price-to-earnings ratio of 51.08, a PEG ratio of 1.71 and a beta of 1.22. The stock has a 50-day moving average of $579.15 and a 200-day moving average of $486.82. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix, Inc. has a 1-year low of $315.62 and a 1-year high of $634.39.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. During the same quarter in the previous year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that Netflix, Inc. will post 17.01 earnings per share for the current year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,998 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $470.51, for a total transaction of $12,232,318.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 25,998 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $470.51, for a total value of $12,232,318.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 47,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the transaction, the director now owns 431,034 shares in the company, valued at approximately $237,284,217. The disclosure for this sale can be found here. Insiders have sold a total of 273,767 shares of company stock worth $151,298,232 in the last 90 days. Corporate insiders own 2.45% of the company’s stock.

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.