Castleark Management LLC Acquires 29,230 Shares of Netflix, Inc. (NASDAQ:NFLX)

Castleark Management LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 65.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,878 shares of the Internet television network's stock after buying an additional 29,230 shares during the quarter. Netflix makes up approximately 2.3% of Castleark Management LLC's investment portfolio, making the stock its 12th largest position. Castleark Management LLC's holdings in Netflix were worth $65,849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC lifted its position in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC grew its stake in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after buying an additional 175,596 shares in the last quarter. Norges Bank acquired a new stake in Netflix during the fourth quarter worth about $5,019,087,000. Finally, Alliancebernstein L.P. increased its holdings in Netflix by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock valued at $4,582,568,000 after buying an additional 82,564 shares during the period. Institutional investors own 80.93% of the company's stock.

Netflix Trading Up 0.0%

NFLX opened at $1,192.02 on Wednesday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,196.50. The company has a fifty day moving average of $1,020.82 and a 200-day moving average of $952.98. The stock has a market cap of $507.29 billion, a PE ratio of 60.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the business posted $8.28 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. FBN Securities initiated coverage on Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 target price on the stock. The Goldman Sachs Group boosted their price target on Netflix from $850.00 to $960.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Wolfe Research set a $1,340.00 price objective on Netflix and gave the stock an "outperform" rating in a research report on Friday. Finally, KeyCorp lifted their target price on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research 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. According to data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and a consensus target price of $1,102.79.

Insider Buying and Selling

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director now directly owns 7,969 shares in the company, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 25,360 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares of the company's stock, valued at approximately $362,933.10. This trade represents a 98.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,868 shares of company stock valued at $138,483,256 over the last 90 days. Company insiders own 1.76% 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.

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