Lord Abbett & CO. LLC Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lord Abbett & CO. LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 288,416 shares of the Internet television network's stock after selling 2,843 shares during the period. Netflix makes up about 0.8% of Lord Abbett & CO. LLC's portfolio, making the stock its 25th biggest position. Lord Abbett & CO. LLC owned about 0.07% of Netflix worth $257,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. West Michigan Advisors LLC lifted its stake in Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock valued at $692,000 after acquiring an additional 10 shares during the period. Warwick Investment Management Inc. lifted its stake in Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after acquiring an additional 10 shares during the period. MRP Capital Investments LLC lifted its stake in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after acquiring an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC lifted its stake in Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after acquiring an additional 10 shares during the period. Finally, Enzi Wealth lifted its stake in Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network's stock valued at $316,000 after acquiring an additional 11 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $1,126.00 target price on shares of Netflix in a report on Thursday, April 17th. The Goldman Sachs Group lifted their target price on shares of Netflix from $850.00 to $960.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Sanford C. Bernstein raised shares of Netflix from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a report on Monday, April 21st. Finally, Arete Research raised shares of Netflix to a "hold" rating in a report on Thursday, January 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,072.12.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 640 shares of the business's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $1,097.04, for a total value of $702,105.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company's stock, valued at approximately $12,700,583. This trade represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,495 shares of company stock worth $268,176,922 over the last 90 days. Corporate insiders own 1.76% of the company's stock.

Netflix Trading Up 0.3 %

NFLX stock traded up $3.69 during mid-day trading on Tuesday, hitting $1,114.07. 1,700,103 shares of the company were exchanged, compared to its average volume of 3,701,247. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $474.11 billion, a P/E ratio of 56.10, a PEG ratio of 2.12 and a beta of 1.55. The business has a fifty day simple moving average of $957.26 and a 200-day simple moving average of $908.81. Netflix, Inc. has a 12-month low of $544.25 and a 12-month high of $1,115.89.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the prior year, the business earned $8.28 EPS. On average, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.