Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Fulton Breakefield Broenniman LLC
Fulton Breakefield Broenniman LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,114 shares of the Internet television network’s stock after acquiring an additional 539 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Netflix were worth $1,008,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Netflix by 3.5% during the second quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock worth $12,007,252,000 after purchasing an additional 1,118,349 shares during the last quarter. State Street Corp lifted its holdings in shares of Netflix by 1.3% during the third quarter. State Street Corp now owns 16,453,029 shares of the Internet television network’s stock worth $4,403,160,000 after purchasing an additional 218,262 shares during the period. Price T Rowe Associates Inc. MD grew its position in Netflix by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,748,186 shares of the Internet television network’s stock valued at $5,784,623,000 after buying an additional 297,582 shares during the last quarter. Invesco Ltd. grew its position in Netflix by 39.1% in the 2nd quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock valued at $2,662,841,000 after buying an additional 2,039,046 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Netflix in the 2nd quarter valued at $1,246,724,000. 80.80% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Reed Hastings sold 54,516 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $312.04, for a total value of $17,011,172.64. Following the sale, the chief executive officer now directly owns 54,516 shares of the company’s stock, valued at approximately $17,011,172.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.72% of the stock is owned by insiders.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Wednesday, October 16th. The Internet television network reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.42. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The business had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, analysts anticipate that Netflix, Inc. will post 3.33 EPS for the current year.
NFLX has been the subject of a number of analyst reports. Wells Fargo & Co downgraded shares of Netflix from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $308.00 to $265.00 in a research report on Monday, November 25th. Piper Jaffray Companies reiterated a “buy” rating and set a $400.00 price target on shares of Netflix in a research note on Wednesday, December 11th. Zacks Investment Research lowered shares of Netflix from a “hold” rating to a “sell” rating and set a $295.00 price target on the stock. in a research note on Friday, October 11th. Guggenheim cut their price target on shares of Netflix from $420.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Evercore ISI reduced their price objective on shares of Netflix from $380.00 to $300.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $373.29.
Netflix Company Profile
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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