Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 42.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,387,159 shares of the Internet television network's stock after purchasing an additional 410,235 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.33% of Netflix worth $1,293,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC increased its position in shares of Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after acquiring an additional 110,432 shares during the period. PharVision Advisers LLC acquired a new position in Netflix during the 4th quarter worth $873,000. New England Research & Management Inc. increased its holdings in Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after purchasing an additional 1,268 shares during the period. Xcel Wealth Management LLC raised its position in Netflix by 15.2% in the 1st quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock valued at $459,000 after purchasing an additional 65 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Netflix by 6.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after buying an additional 3,137 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Reed Hastings sold 26,977 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the transaction, the director owned 394 shares of the company's stock, valued at approximately $446,421.70. The trade was a 98.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is currently owned by corporate insiders.

Netflix Price Performance

Netflix stock traded up $16.84 during mid-day trading on Monday, reaching $1,261.95. The company had a trading volume of 2,774,453 shares, compared to its average volume of 4,257,667. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The company has a market capitalization of $537.05 billion, a P/E ratio of 59.64, a P/E/G ratio of 2.25 and a beta of 1.59. The stock's 50-day simple moving average is $1,221.70 and its 200-day simple moving average is $1,050.73. 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 announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the firm earned $8.28 earnings per share. On average, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NFLX. Guggenheim restated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Rosenblatt Securities increased their target price on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. The Goldman Sachs Group lifted their price target on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Macquarie increased their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Finally, Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,220.58.

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.