Jennison Associates LLC Has $6.09 Billion Stake in Netflix, Inc. (NASDAQ:NFLX)

Jennison Associates LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,530,346 shares of the Internet television network's stock after selling 86,010 shares during the quarter. Netflix accounts for about 4.3% of Jennison Associates LLC's holdings, making the stock its 6th biggest holding. Jennison Associates LLC owned about 1.53% of Netflix worth $6,089,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fullcircle Wealth LLC increased its holdings in shares of Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after purchasing an additional 9 shares during the period. MRP Capital Investments LLC increased its holdings in shares of Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after purchasing an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its holdings in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after purchasing an additional 10 shares during the period. Mission Creek Capital Partners Inc. increased its holdings in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after purchasing an additional 10 shares during the period. Finally, Continuum Wealth Advisors LLC increased its holdings in shares of Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after purchasing an additional 10 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,472,273.97. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the transaction, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. The trade was a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock worth $223,307,201 in the last ninety days. 1.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. FBN Securities started coverage on shares of Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Finally, Morgan Stanley upped their price objective on shares of Netflix from $1,450.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,291.41.

Netflix Price Performance

NASDAQ:NFLX traded down $64.93 during trading hours on Friday, reaching $1,209.24. The company had a trading volume of 10,678,762 shares, compared to its average volume of 3,762,863. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $514.62 billion, a PE ratio of 51.52, a PEG ratio of 2.19 and a beta of 1.59. The stock has a 50-day moving average of $1,232.59 and a two-hundred day moving average of $1,061.94. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 43.00% and a net margin of 24.58%. The business's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.88 earnings per share. Analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current 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.