Franklin Resources Inc. Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Franklin Resources Inc. increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 18.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,459,019 shares of the Internet television network’s stock after buying an additional 222,480 shares during the period. Franklin Resources Inc.’s holdings in Netflix were worth $1,300,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Pathway Financial Advisers LLC boosted its position in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares in the last quarter. Newton One Investments LLC purchased a new position in Netflix during the fourth quarter worth about $34,000. Pineridge Advisors LLC grew its stake in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares during the period. FSA Wealth Management LLC purchased a new position in shares of Netflix in the 3rd quarter valued at $38,000. Finally, Princeton Global Asset Management LLC lifted its stake in shares of Netflix by 51.6% during the fourth 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. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Down 4.4 %

Shares of NFLX opened at $933.85 on Monday. The stock’s 50-day moving average price is $971.74 and its 200 day moving average price is $869.42. 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 firm has a market capitalization of $399.46 billion, a price-to-earnings ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 38.32% and a net margin of 22.34%. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.11 earnings per share. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NFLX. Bank of America upped their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and lifted their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Argus raised their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. FBN Securities started coverage on shares of Netflix in a research report on Thursday. They issued an “outperform” rating and a $1,165.00 price target on the stock. Finally, Guggenheim boosted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,021.02.

Insider Activity

In other news, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,583 shares of company stock worth $279,611,567. 1.76% of the stock is currently owned by corporate insiders.

About Netflix

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.