American Century Companies Inc. Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

American Century Companies Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,303,677 shares of the Internet television network’s stock after selling 6,568 shares during the period. Netflix comprises about 0.7% of American Century Companies Inc.’s investment portfolio, making the stock its 15th biggest holding. American Century Companies Inc. owned 0.30% of Netflix worth $1,161,994,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its stake in shares of 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 boosted its holdings in shares of 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 during the last quarter. Wellington Management Group LLP grew its position in 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 buying an additional 23,702 shares during the period. Fisher Asset Management LLC increased its holdings in Netflix by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after buying an additional 45,507 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Netflix by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,807,228 shares of the Internet television network’s stock worth $1,991,083,000 after acquiring an additional 25,060 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at approximately $386,876.48. This represents a 98.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix 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 owns 3,691 shares of the company’s stock, valued at $3,624,746.55. The trade was a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,103 shares of company stock worth $279,142,041. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NFLX. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Robert W. Baird raised their price objective on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Needham & Company LLC boosted their price objective on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. 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-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,016.78.

Netflix Stock Up 1.0 %

Shares of NASDAQ:NFLX opened at $960.29 on Friday. The firm has a market capitalization of $410.77 billion, a PE ratio of 48.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The business has a 50 day simple moving average of $959.08 and a two-hundred day simple moving average of $856.54. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted 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 return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 EPS. Netflix’s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current 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.