ProShare Advisors LLC Buys 89,777 Shares of Netflix, Inc. (NASDAQ:NFLX)

ProShare Advisors LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 549,231 shares of the Internet television network’s stock after acquiring an additional 89,777 shares during the quarter. Netflix accounts for about 1.1% of ProShare Advisors LLC’s investment portfolio, making the stock its 11th largest holding. ProShare Advisors LLC’s holdings in Netflix were worth $489,541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NFLX. Norges Bank purchased a new position in shares of Netflix in the fourth quarter worth approximately $5,019,087,000. Proficio Capital Partners LLC boosted its holdings in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after buying an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after buying an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after buying an additional 570,674 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NFLX shares. UBS Group dropped their price objective on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Pivotal Research raised their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, April 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Barclays lifted their price target on shares of Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. Finally, Moffett Nathanson reaffirmed a “buy” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Ten equities 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,084.91.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $982.05, for a total value of $2,554,312.05. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,624,746.55. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was 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. Over the last ninety days, insiders sold 132,868 shares of company stock valued at $138,483,256. 1.76% of the stock is currently owned by company insiders.

Netflix Trading Up 1.1%

NFLX stock opened at $1,150.99 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,164.00. The stock has a market capitalization of $489.83 billion, a price-to-earnings ratio of 58.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The firm’s fifty day simple moving average is $997.19 and its two-hundred day simple moving average is $939.66.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share 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 previous year, the business posted $8.28 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.