Geode Capital Management LLC Has $8.29 Billion Position in Netflix, Inc. (NASDAQ:NFLX)

Geode Capital Management LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.9% in the fourth quarter, HoldingsChannel reports. The firm owned 9,323,952 shares of the Internet television network’s stock after buying an additional 175,596 shares during the period. Netflix makes up about 0.6% of Geode Capital Management LLC’s portfolio, making the stock its 21st largest position. Geode Capital Management LLC’s holdings in Netflix were worth $8,287,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% during the fourth 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 during the period. Newton One Investments LLC bought a new stake in Netflix during the 4th quarter valued at $34,000. Pineridge Advisors LLC raised its holdings in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after buying an additional 16 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Netflix during the fourth quarter valued at about $43,000. 80.93% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $30,946,506.10. This represents a 56.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,583 shares of company stock worth $279,611,567. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

NFLX has been the topic of a number of analyst reports. Arete Research upgraded shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. UBS Group reissued a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Finally, KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Ten 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.02.

Netflix Trading Down 0.1 %

NASDAQ:NFLX opened at $932.53 on Tuesday. The company has a market cap of $398.90 billion, a P/E ratio of 47.03, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s fifty day moving average price is $973.23 and its two-hundred day moving average price is $871.15.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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 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%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.11 EPS. As a group, analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.