Covea Finance reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 19.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 63,600 shares of the Internet television network’s stock after selling 15,520 shares during the period. Netflix comprises 2.6% of Covea Finance’s investment portfolio, making the stock its 8th largest position. Covea Finance’s holdings in Netflix were worth $56,688,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC raised its stake in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC boosted its position in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.
Netflix Stock Performance
Shares of NASDAQ NFLX opened at $828.40 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1 year low of $475.26 and a 1 year high of $941.75. The firm has a fifty day moving average price of $881.04 and a 200-day moving average price of $755.96. The stock has a market cap of $354.11 billion, a PE ratio of 46.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.
Analysts Set New Price Targets
A number of research analysts recently issued reports on NFLX shares. Jefferies Financial Group lifted their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. TD Cowen boosted their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. The Goldman Sachs Group boosted their target price on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets raised their price target on Netflix from $825.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $846.58.
Read Our Latest Research Report on NFLX
Insider Activity at Netflix
In other Netflix news, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $26,975,430. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,186 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,817,500. This trade represents a 24.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is owned by company insiders.
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.
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