Discovery Capital Management LLC CT Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Discovery Capital Management LLC CT grew its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,500 shares of the Internet television network's stock after acquiring an additional 3,100 shares during the period. Netflix comprises approximately 1.1% of Discovery Capital Management LLC CT's investment portfolio, making the stock its 28th biggest position. Discovery Capital Management LLC CT's holdings in Netflix were worth $15,598,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock worth $1,200,485,000 after acquiring an additional 198,148 shares during the period. Tradition Wealth Management LLC increased its stake in shares of Netflix by 11.1% during the third quarter. Tradition Wealth Management LLC now owns 859 shares of the Internet television network's stock worth $609,000 after purchasing an additional 86 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its position in shares of Netflix by 5.6% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 681 shares of the Internet television network's stock worth $483,000 after purchasing an additional 36 shares during the last quarter. FSA Wealth Management LLC purchased a new position in Netflix in the 3rd quarter valued at about $38,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Netflix in the 3rd quarter worth about $1,308,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Argus increased their target price on Netflix from $840.00 to $1,040.00 and gave the company a "buy" rating in a report on Monday, January 6th. Seaport Res Ptn raised Netflix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Wedbush reaffirmed an "outperform" rating and set a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and increased their target price for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. Finally, KeyCorp boosted their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,021.02.

Insider Buying and Selling at Netflix

In related news, Director Richard N. Barton sold 6,364 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares of the company's stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now owns 114 shares of the company's stock, valued at $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,583 shares of company stock valued at $279,611,567 in the last 90 days. Company insiders own 1.76% of the company's stock.

Netflix Trading Down 0.4 %

Netflix stock traded down $4.15 during midday trading on Tuesday, reaching $928.38. 3,514,962 shares of the stock traded hands, compared to its average volume of 3,592,921. The firm has a market cap of $397.12 billion, a PE ratio of 46.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $974.40 and a two-hundred day simple moving average of $872.78. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.11 earnings per share. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.