Freestone Grove Partners LP Invests $19.33 Million in Netflix, Inc. (NASDAQ:NFLX)

Freestone Grove Partners LP bought a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 21,682 shares of the Internet television network's stock, valued at approximately $19,326,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock valued at $1,200,485,000 after buying an additional 198,148 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Netflix by 23.5% during the third quarter. World Investment Advisors LLC now owns 2,735 shares of the Internet television network's stock valued at $1,940,000 after acquiring an additional 520 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Netflix by 124.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,732 shares of the Internet television network's stock worth $4,066,000 after purchasing an additional 3,182 shares during the last quarter. Synovus Financial Corp boosted its stake in Netflix by 43.9% in the 3rd quarter. Synovus Financial Corp now owns 12,667 shares of the Internet television network's stock worth $8,984,000 after purchasing an additional 3,864 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Netflix by 11.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,236,539 shares of the Internet television network's stock valued at $881,652,000 after purchasing an additional 127,541 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

NFLX has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Macquarie increased their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Wells Fargo & Company boosted their price target on Netflix from $1,210.00 to $1,222.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. StockNews.com downgraded shares of Netflix from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird upped their target price on shares of Netflix from $875.00 to $1,200.00 and gave the company an "outperform" rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,084.91.

Insider Activity at Netflix

In other Netflix news, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,759 shares of company stock valued at $186,744,388. 1.76% of the stock is currently owned by insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX traded up $23.02 during trading on Friday, reaching $1,156.49. The stock had a trading volume of 3,766,329 shares, compared to its average volume of 3,722,034. The business has a fifty day moving average price of $968.34 and a 200-day moving average price of $919.35. Netflix, Inc. has a 1-year low of $580.25 and a 1-year high of $1,159.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $492.17 billion, a PE ratio of 58.32, a PEG ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 22.34% and a return on equity of 38.32%. During the same period in the prior year, the business earned $8.28 earnings per share. On average, equities 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.