Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 187,845 shares of the Internet television network's stock after purchasing an additional 6,393 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Netflix were worth $174,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NFLX. GAMMA Investing LLC raised its stake in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank acquired a new position in Netflix in the 4th quarter valued at about $5,019,087,000. Arrowstreet Capital Limited Partnership raised its stake in Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after purchasing an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after purchasing an additional 570,674 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Up 1.3%

Shares of NASDAQ:NFLX traded up $16.45 during trading on Friday, hitting $1,323.12. The company's stock had a trading volume of 4,066,251 shares, compared to its average volume of 3,747,286. The stock's 50-day moving average price is $1,183.25 and its two-hundred day moving average price is $1,024.18. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,331.35. The company has a market capitalization of $563.08 billion, a PE ratio of 62.53, a PEG ratio of 2.56 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the company posted $8.28 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on NFLX. Pivotal Research lifted their price target on Netflix from $1,350.00 to $1,600.00 and gave the company a "buy" rating in a report on Friday, June 20th. Cfra Research upgraded Netflix to a "strong-buy" rating in a report on Monday, April 28th. Loop Capital restated a "hold" rating on shares of Netflix in a report on Monday, March 24th. Canaccord Genuity Group lifted their price target on Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, KeyCorp lifted their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,172.73.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at $3,402,068.52. This represents a 41.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,280 shares of company stock valued at $210,599,866 in the last three months. Corporate insiders own 1.37% of the company's stock.

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.