Kornitzer Capital Management Inc. KS Has $7.21 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,733 shares of the Internet television network's stock after selling 412 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Netflix were worth $7,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC grew 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 buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC increased 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 valued at $8,287,823,000 after acquiring an additional 175,596 shares during the period. GAMMA Investing LLC raised its holdings 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 acquiring an additional 8,827,662 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Netflix in the 4th quarter worth approximately $5,019,087,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on NFLX shares. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Seaport Res Ptn downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a report on Monday, April 21st. Loop Capital reissued a "hold" rating on shares of Netflix in a report on Tuesday. Finally, Needham & Company LLC set a $1,500.00 price objective on shares of Netflix and gave the stock a "buy" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $1,227.39.

Netflix Trading Down 0.8%

NFLX traded down $9.96 during mid-day trading on Wednesday, hitting $1,250.31. The stock had a trading volume of 3,214,297 shares, compared to its average volume of 3,760,434. The stock's fifty day simple moving average is $1,226.71 and its 200-day simple moving average is $1,054.65. The firm has a market capitalization of $532.09 billion, a price-to-earnings ratio of 59.09, a price-to-earnings-growth ratio of 2.28 and a beta of 1.59. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20.

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

Insider Activity at Netflix

In related news, Director Ann Mather sold 1,090 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock valued at $223,307,201 over the last 90 days. 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.