Panagora Asset Management Inc. Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Panagora Asset Management Inc. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,117 shares of the Internet television network’s stock after buying an additional 11,784 shares during the quarter. Panagora Asset Management Inc.’s holdings in Netflix were worth $44,402,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighMark Wealth Management LLC purchased a new position in Netflix during the 1st quarter valued at $26,000. ShoreHaven Wealth Partners LLC purchased a new position in Netflix during the 4th quarter valued at $27,000. Valley Brook Capital Group purchased a new position in Netflix during the 4th quarter valued at $27,000. Litman Gregory Asset Management LLC purchased a new position in Netflix during the 4th quarter valued at $30,000. Finally, Jones Financial Companies Lllp grew its position in shares of Netflix by 1,500.0% in the 1st quarter. Jones Financial Companies Lllp now owns 64 shares of the Internet television network’s stock worth $33,000 after buying an additional 60 shares during the period. 79.75% of the stock is currently owned by institutional investors.

In other Netflix news, Director Jay C. Hoag sold 2,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $491.30, for a total value of $1,296,540.70. Following the completion of the transaction, the director now directly owns 1,309 shares of the company’s stock, valued at $643,111.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.68% of the company’s stock.

A number of research firms have recently weighed in on NFLX. Stifel Nicolaus raised shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $550.00 to $560.00 in a research report on Wednesday, April 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $620.00 target price on shares of Netflix in a research report on Wednesday, May 19th. Evercore ISI began coverage on shares of Netflix in a research report on Tuesday, April 6th. They issued an “outperform” rating and a $665.00 target price on the stock. UBS Group reaffirmed a “buy” rating and issued a $650.00 target price on shares of Netflix in a research report on Sunday, April 18th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $600.00 price target on shares of Netflix in a research note on Wednesday, April 21st. Four analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $593.82.

Shares of Netflix stock traded up $3.54 on Friday, reaching $490.81. 45,766 shares of the stock were exchanged, compared to its average volume of 4,500,293. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. Netflix, Inc. has a twelve month low of $412.45 and a twelve month high of $593.29. The company has a market capitalization of $217.63 billion, a price-to-earnings ratio of 58.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.75. The company has a 50 day simple moving average of $511.51.

Netflix (NASDAQ:NFLX) last released its earnings results on Monday, April 19th. The Internet television network reported $3.75 EPS for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.77. Netflix had a return on equity of 34.47% and a net margin of 14.24%. The firm had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue was up 24.2% compared to the same quarter last year. On average, research analysts predict that Netflix, Inc. will post 10.43 earnings per share for the current fiscal year.

Netflix Company Profile

Netflix, Inc provides entertainment services. 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 devices, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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