QRG Capital Management Inc. Purchases 6,518 Shares of Netflix, Inc. (NASDAQ:NFLX)

QRG Capital Management Inc. raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,563 shares of the Internet television network’s stock after purchasing an additional 6,518 shares during the quarter. Netflix makes up about 0.9% of QRG Capital Management Inc.’s holdings, making the stock its 14th biggest holding. QRG Capital Management Inc.’s holdings in Netflix were worth $85,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp increased its position in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC increased its position in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC grew its position in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. Wellington Management Group LLP grew its position in shares of Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after buying an additional 123,987 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders sold a total of 303,220 shares of company stock valued at $289,856,164 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Netflix Price Performance

NASDAQ NFLX opened at $990.06 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company’s 50 day moving average is $945.07 and its two-hundred day moving average is $827.46. The stock has a market cap of $423.51 billion, a price-to-earnings ratio of 49.93, a PEG ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm posted $2.11 EPS. The company’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NFLX. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. UBS Group increased their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Oppenheimer increased their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.