Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Covington Capital Management

Covington Capital Management lowered its holdings in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 25.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,205 shares of the Internet television network’s stock after selling 408 shares during the period. Covington Capital Management’s holdings in Netflix were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Netflix by 1.5% during the third quarter. Vanguard Group Inc. now owns 35,119,551 shares of the Internet television network’s stock worth $8,268,547,000 after purchasing an additional 534,950 shares during the period. State Street Corp boosted its holdings in shares of Netflix by 2.2% during the second quarter. State Street Corp now owns 17,249,083 shares of the Internet television network’s stock worth $3,016,347,000 after purchasing an additional 364,895 shares during the period. FMR LLC boosted its holdings in shares of Netflix by 4.5% during the second quarter. FMR LLC now owns 16,864,057 shares of the Internet television network’s stock worth $2,949,018,000 after purchasing an additional 725,384 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Netflix by 21.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 11,405,142 shares of the Internet television network’s stock worth $2,690,289,000 after purchasing an additional 1,991,099 shares during the period. Finally, Polen Capital Management LLC boosted its holdings in shares of Netflix by 53.9% during the third quarter. Polen Capital Management LLC now owns 7,332,431 shares of the Internet television network’s stock worth $1,726,348,000 after purchasing an additional 2,569,072 shares during the period. Institutional investors and hedge funds own 77.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NFLX shares. Cowen raised their price target on shares of Netflix from $405.00 to $440.00 in a report on Friday, January 20th. Credit Suisse Group lifted their target price on shares of Netflix from $271.00 to $291.00 and gave the company a “neutral” rating in a research note on Friday, January 20th. Societe Generale lifted their target price on shares of Netflix from $170.00 to $215.00 and gave the company a “sell” rating in a research note on Wednesday, November 30th. Jefferies Financial Group lifted their target price on shares of Netflix from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, February 6th. Finally, Moffett Nathanson lifted their target price on shares of Netflix from $240.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday, January 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $343.00.

Netflix Trading Up 0.5 %

Shares of Netflix stock opened at $294.94 on Wednesday. Netflix, Inc. has a 52-week low of $162.71 and a 52-week high of $396.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.17 and a quick ratio of 1.17. The company’s fifty day moving average price is $335.31 and its two-hundred day moving average price is $291.43. The firm has a market capitalization of $131.35 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26.

Netflix (NASDAQ:NFLX – Get Rating) last issued its earnings results on Thursday, January 19th. The Internet television network reported $0.12 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.35). Netflix had a net margin of 14.21% and a return on equity of 23.06%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.85 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 11.18 EPS for the current year.

Insider Activity

In other news, Director Jay C. Hoag sold 3,698 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $352.94, for a total value of $1,305,172.12. The sale was disclosed in a filing with the SEC, which is available at this link. 2.39% of the stock is owned by corporate insiders.

Netflix Company Profile

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Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.