Fisher Funds Management LTD Buys New Position in Netflix, Inc. (NASDAQ:NFLX)

Fisher Funds Management LTD purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, HoldingsChannel reports. The firm purchased 95,923 shares of the Internet television network’s stock, valued at approximately $85,660,000. Netflix accounts for about 2.1% of Fisher Funds Management LTD’s portfolio, making the stock its 16th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB lifted its holdings in Netflix by 7.4% in the third quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock valued at $48,557,000 after buying an additional 4,701 shares during the period. Swedbank AB raised its position in shares of Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after acquiring an additional 8,024 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Netflix by 17.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 634 shares of the Internet television network’s stock worth $450,000 after acquiring an additional 92 shares in the last quarter. Busey Bank lifted its stake in shares of Netflix by 3.7% in the 3rd quarter. Busey Bank now owns 794 shares of the Internet television network’s stock valued at $563,000 after purchasing an additional 28 shares during the period. Finally, BayBridge Capital Group LLC boosted its position in shares of Netflix by 1.5% during the 3rd quarter. BayBridge Capital Group LLC now owns 2,069 shares of the Internet television network’s stock valued at $1,467,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 685 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,009.57, for a total value of $691,555.45. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,726,322.87. This represents a 15.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,220 shares of company stock worth $289,856,164. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $1,003.15 on Friday. The stock has a 50 day moving average of $940.55 and a 200 day moving average of $819.90. The company has a market capitalization of $429.10 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. 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 earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $2.11 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research analyst reports. Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. StockNews.com lowered shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Macquarie increased their target price on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $1,150.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Arete Research upgraded shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Company 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.