EastBay Asset Management LLC acquired a new position in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, Holdings Channel reports. The fund acquired 150,000 shares of the Internet television network’s stock, valued at approximately $28,794,000. Netflix accounts for approximately 2.7% of EastBay Asset Management LLC’s investment portfolio, making the stock its 9th largest holding.
Several other hedge funds have also made changes to their positions in NFLX. Balentine LLC lifted its position in shares of Netflix by 1,020.4% in the third quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock worth $100,000 after purchasing an additional 500 shares in the last quarter. Duncker Streett & Co. Inc. lifted its position in shares of Netflix by 47.1% in the fourth quarter. Duncker Streett & Co. Inc. now owns 625 shares of the Internet television network’s stock worth $120,000 after purchasing an additional 200 shares in the last quarter. Goodman Financial Corp bought a new stake in shares of Netflix in the fourth quarter worth $163,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Netflix in the third quarter worth $171,000. Finally, Grove Bank & Trust lifted its position in shares of Netflix by 249.6% in the third quarter. Grove Bank & Trust now owns 958 shares of the Internet television network’s stock worth $174,000 after purchasing an additional 684 shares in the last quarter. 82.38% of the stock is currently owned by institutional investors and hedge funds.
NFLX has been the topic of a number of research reports. Morgan Stanley reissued an “overweight” rating and issued a $255.00 price objective (up previously from $235.00) on shares of Netflix in a research report on Thursday, January 18th. SunTrust Banks set a $270.00 price objective on shares of Netflix and gave the stock a “hold” rating in a research report on Wednesday. Loop Capital reissued a “buy” rating and issued a $237.00 price objective on shares of Netflix in a research report on Wednesday, December 6th. Canaccord Genuity reissued a “buy” rating and issued a $280.00 price objective (up previously from $225.00) on shares of Netflix in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $250.00 price target (up from $230.00) on shares of Netflix in a research report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. Netflix presently has a consensus rating of “Buy” and an average target price of $239.39.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, January 22nd. The Internet television network reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.28 billion. Netflix had a net margin of 4.78% and a return on equity of 17.20%. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. equities analysts predict that Netflix, Inc. will post 2.73 EPS for the current fiscal year.
In other news, Director A George Battle sold 10,716 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $258.49, for a total value of $2,769,978.84. Following the completion of the transaction, the director now owns 2,575 shares of the company’s stock, valued at $665,611.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 350 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $185.71, for a total transaction of $64,998.50. Following the completion of the transaction, the director now directly owns 7,171 shares of the company’s stock, valued at approximately $1,331,726.41. The disclosure for this sale can be found here. Insiders have sold 469,901 shares of company stock worth $107,797,603 over the last quarter. Corporate insiders own 4.90% of the company’s stock.
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Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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