Fred Alger Management LLC Has $407.90 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Fred Alger Management LLC grew its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 457,636 shares of the Internet television network's stock after buying an additional 94,688 shares during the period. Netflix accounts for about 1.9% of Fred Alger Management LLC's portfolio, making the stock its 11th biggest holding. Fred Alger Management LLC owned approximately 0.11% of Netflix worth $407,900,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC lifted its stake in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after buying an additional 14 shares during the last quarter. Transce3nd LLC acquired a new stake in Netflix during the fourth quarter worth approximately $32,000. Newton One Investments LLC bought a new stake in shares of Netflix during the fourth quarter worth approximately $34,000. Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after purchasing an additional 40 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock worth $42,000 after purchasing an additional 16 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Down 0.4 %

Shares of NASDAQ NFLX traded down $4.62 during midday trading on Friday, reaching $1,139.81. The stock had a trading volume of 2,565,837 shares, compared to its average volume of 3,735,715. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,164.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company's 50 day moving average price is $984.97 and its 200 day moving average price is $931.79. The firm has a market cap of $485.07 billion, a price-to-earnings ratio of 57.48, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

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

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company's stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,530 shares of company stock valued at $137,602,751. 1.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. StockNews.com downgraded Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Pivotal Research lifted their price objective on Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, The Goldman Sachs Group increased their target price on Netflix from $850.00 to $960.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,084.91.

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.