Lazard Asset Management LLC Has $49.01 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Lazard Asset Management LLC raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.0% in the fourth quarter, Holdings Channel reports. The fund owned 54,984 shares of the Internet television network’s stock after acquiring an additional 2,618 shares during the period. Lazard Asset Management LLC’s holdings in Netflix were worth $49,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the period. FMR LLC boosted its position in shares of Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after buying an additional 375,234 shares during the period. Geode Capital Management LLC boosted its position in shares of Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after buying an additional 175,596 shares during the period. Norges Bank acquired a new position in shares of Netflix during the fourth quarter worth about $5,019,087,000. Finally, Alliancebernstein L.P. boosted its position in shares of Netflix by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock worth $4,582,568,000 after buying an additional 82,564 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NFLX shares. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Moffett Nathanson reiterated a “buy” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Pivotal Research upped their target price on Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a report on Thursday, January 23rd. Finally, Citigroup reiterated a “neutral” rating on shares of Netflix in a report on Monday, May 5th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $1,084.91.

Insider Activity

In other Netflix news, Director Ann Mather sold 1,358 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,949 shares of company stock valued at $134,077,281. 1.76% of the stock is owned by insiders.

Netflix Price Performance

Netflix stock opened at $1,110.00 on Tuesday. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,164.00. The stock’s 50 day moving average is $987.35 and its 200-day moving average is $936.79. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $472.38 billion, a price-to-earnings ratio of 55.98, a PEG ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the business earned $8.28 earnings per share. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

About Netflix

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.