Netflix, Inc. (NFLX) Shares Sold by Oakbrook Investments LLC
Oakbrook Investments LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 13.0% in the first quarter, Holdings Channel reports. The fund owned 18,774 shares of the Internet television network’s stock after selling 2,800 shares during the period. Oakbrook Investments LLC’s holdings in Netflix were worth $6,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc raised its stake in Netflix by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 30,143,430 shares of the Internet television network’s stock worth $11,277,562,000 after acquiring an additional 249,147 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Netflix by 17,848.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,931,481 shares of the Internet television network’s stock worth $89,000 after acquiring an additional 23,798,143 shares during the last quarter. Jennison Associates LLC raised its stake in Netflix by 9.0% in the 4th quarter. Jennison Associates LLC now owns 9,598,888 shares of the Internet television network’s stock worth $2,569,238,000 after acquiring an additional 792,338 shares during the last quarter. Baillie Gifford & Co. raised its stake in Netflix by 1.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,629,879 shares of the Internet television network’s stock worth $2,042,214,000 after acquiring an additional 136,096 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Netflix by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 5,342,932 shares of the Internet television network’s stock worth $1,427,434,000 after acquiring an additional 148,252 shares during the last quarter. Institutional investors own 76.10% of the company’s stock.
NASDAQ:NFLX opened at $360.35 on Friday. Netflix, Inc. has a 52 week low of $231.23 and a 52 week high of $423.21. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $152.32 billion, a PE ratio of 134.46, a price-to-earnings-growth ratio of 2.92 and a beta of 1.36.
In other news, CEO Reed Hastings sold 52,458 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $367.25, for a total transaction of $19,265,200.50. Following the sale, the chief executive officer now directly owns 52,458 shares in the company, valued at approximately $19,265,200.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 1,649 shares of Netflix stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $370.00, for a total value of $610,130.00. Following the completion of the sale, the director now owns 609 shares in the company, valued at $225,330. The disclosure for this sale can be found here. Insiders have sold a total of 184,381 shares of company stock worth $64,721,327 over the last 90 days. Insiders own 4.29% of the company’s stock.
A number of equities analysts have weighed in on NFLX shares. SunTrust Banks reiterated a “buy” rating and set a $402.00 price objective on shares of Netflix in a research note on Wednesday, March 27th. UBS Group started coverage on Netflix in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $350.00 price objective for the company. Buckingham Research reduced their price objective on Netflix from $382.00 to $358.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank of Canada set a $480.00 price objective on Netflix and gave the company a “buy” rating in a research note on Thursday. Finally, Rosenblatt Securities reiterated a “hold” rating on shares of Netflix in a research note on Wednesday. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $385.15.
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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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