Zevenbergen Capital Investments LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)
Zevenbergen Capital Investments LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 490,076 shares of the Internet television network’s stock after selling 50,814 shares during the period. Netflix makes up about 6.2% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 2nd largest holding. Zevenbergen Capital Investments LLC’s holdings in Netflix were worth $174,742,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of NFLX. TCG Advisors LP purchased a new stake in Netflix during the 1st quarter valued at $36,000. Clarfeld Financial Advisors LLC purchased a new stake in Netflix during the 4th quarter valued at $27,000. Pearl River Capital LLC purchased a new stake in Netflix during the 4th quarter valued at $30,000. Citizens Financial Group Inc RI boosted its stake in Netflix by 750.0% during the 4th quarter. Citizens Financial Group Inc RI now owns 136 shares of the Internet television network’s stock valued at $36,000 after purchasing an additional 120 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Netflix by 182.0% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after purchasing an additional 91 shares during the last quarter. 77.05% of the stock is owned by institutional investors.
Several analysts have commented on NFLX shares. ValuEngine upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Barclays set a $375.00 target price on Netflix and gave the company a “buy” rating in a research note on Wednesday, April 17th. Credit Suisse Group reiterated a “buy” rating and set a $440.00 target price on shares of Netflix in a research note on Wednesday, April 3rd. SunTrust Banks reiterated a “buy” rating on shares of Netflix in a research note on Friday, April 12th. Finally, Rosenblatt Securities started coverage on Netflix in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $350.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $386.03.
Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.19. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.50 billion. Netflix had a return on equity of 24.75% and a net margin of 7.61%. Netflix’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. On average, sell-side analysts forecast that Netflix, Inc. will post 3.34 EPS for the current year.
In related news, CEO Reed Hastings sold 56,966 shares of Netflix stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $370.74, for a total transaction of $21,119,574.84. Following the transaction, the chief executive officer now directly owns 56,966 shares in the company, valued at $21,119,574.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 166,838 shares of company stock worth $60,415,372 over the last quarter. 4.29% of the stock is owned by company insiders.
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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