Victory Capital Management Inc. Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Victory Capital Management Inc. lifted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 518,029 shares of the Internet television network's stock after acquiring an additional 253 shares during the quarter. Netflix accounts for approximately 0.5% of Victory Capital Management Inc.'s holdings, making the stock its 26th largest position. Victory Capital Management Inc. owned 0.12% of Netflix worth $483,078,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NFLX. Vanguard Group Inc. boosted its position in 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 acquiring an additional 171,712 shares during the period. FMR LLC boosted its position in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the period. Geode Capital Management LLC boosted its position in Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the period. GAMMA Investing LLC boosted its position in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Finally, Norges Bank acquired a new position in Netflix during the 4th quarter worth $5,019,087,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NFLX. Wells Fargo & Company boosted their price objective on Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Seaport Res Ptn lowered Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. Rosenblatt Securities increased their price target on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research report on Friday. Macquarie increased their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Finally, TD Cowen lifted their target price on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research note on Friday. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,269.09.

Netflix Stock Performance

NASDAQ NFLX traded down $58.77 during trading on Friday, reaching $1,215.40. 6,495,676 shares of the company's stock were exchanged, compared to its average volume of 4,270,032. The business has a 50 day moving average price of $1,231.20 and a 200-day moving average price of $1,058.57. The stock has a market capitalization of $517.24 billion, a P/E ratio of 57.36, a PEG ratio of 2.26 and a beta of 1.59. 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, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the business earned $4.88 earnings per share. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value 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 position. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock worth $223,307,201 over the last three months. Company 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.