Netflix, Inc. (NASDAQ:NFLX) Stock Position Decreased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,416 shares of the Internet television network's stock after selling 2,843 shares during the period. Netflix makes up approximately 0.8% of Lord Abbett & CO. LLC's portfolio, making the stock its 25th largest position. Lord Abbett & CO. LLC owned about 0.07% of Netflix worth $257,071,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after acquiring an additional 171,712 shares during the last quarter. FMR LLC grew its holdings in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC increased its position in shares of Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the last quarter. Norges Bank purchased a new stake in Netflix in the 4th quarter valued at about $5,019,087,000. Finally, Alliancebernstein L.P. lifted its position in Netflix by 1.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock valued at $4,582,568,000 after buying an additional 82,564 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares of the company's stock, valued at $30,946,506.10. The trade was a 56.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,855 shares of company stock valued at $267,474,816. Company insiders own 1.76% of the company's stock.

Netflix Price Performance

Netflix stock traded up $4.66 during midday trading on Friday, hitting $1,101.53. The company's stock had a trading volume of 3,944,668 shares, compared to its average volume of 3,708,273. Netflix, Inc. has a 12 month low of $544.25 and a 12 month high of $1,106.80. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $955.92 and its 200-day moving average price is $904.88. The company has a market capitalization of $468.78 billion, a PE ratio of 55.55, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the prior year, the business earned $8.28 earnings per share. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. Guggenheim reiterated a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. Argus upped their price target on Netflix from $840.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on Netflix from $1,025.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, FBN Securities started coverage on Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,072.12.

Netflix 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.