Arrowstreet Capital Limited Partnership Purchases 856,307 Shares of Netflix, Inc. (NASDAQ:NFLX)

Arrowstreet Capital Limited Partnership grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 59.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,301,098 shares of the Internet television network's stock after acquiring an additional 856,307 shares during the quarter. Netflix comprises about 1.6% of Arrowstreet Capital Limited Partnership's holdings, making the stock its 5th largest position. Arrowstreet Capital Limited Partnership owned 0.54% of Netflix worth $2,051,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its holdings in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Newton One Investments LLC purchased a new position in shares of Netflix in the 4th quarter worth about $34,000. Pineridge Advisors LLC lifted its stake in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Netflix during the 3rd quarter worth about $38,000. Finally, Princeton Global Asset Management LLC increased its position in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock worth $42,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

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Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. Moffett Nathanson raised shares of Netflix from a "neutral" rating to a "buy" rating and lifted their price target for the company from $850.00 to $1,100.00 in a research report on Monday, March 17th. StockNews.com downgraded Netflix from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Citigroup boosted their price objective on Netflix from $725.00 to $920.00 and gave the stock a "neutral" rating in a research note on Thursday, December 5th. Rosenblatt Securities raised shares of Netflix from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, Benchmark raised shares of Netflix from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,021.02.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares of the company's stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 41,121 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares of the company's stock, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,583 shares of company stock worth $279,611,567. Insiders own 1.76% of the company's stock.

Netflix Price Performance

NASDAQ NFLX traded up $13.36 on Wednesday, reaching $941.74. The company's stock had a trading volume of 1,607,535 shares, compared to its average volume of 3,585,323. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm's 50 day moving average is $974.40 and its two-hundred day moving average is $872.78. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The stock has a market cap of $402.83 billion, a PE ratio of 47.49, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.11 earnings per share. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.