Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Allstate Corp

Allstate Corp increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3,171.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,757 shares of the Internet television network’s stock after purchasing an additional 12,367 shares during the period. Allstate Corp’s holdings in Netflix were worth $11,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pathway Financial Advisers LLC lifted its holdings 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 acquired a new stake in shares of Netflix in the 4th quarter worth $34,000. Pineridge Advisors LLC boosted its holdings in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Netflix during the third quarter worth about $38,000. Finally, Princeton Global Asset Management LLC raised its holdings in 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of analyst reports. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. The Goldman Sachs Group raised their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Robert W. Baird raised their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,021.02.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now directly owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,583 shares of company stock valued at $279,611,567. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 4.4 %

Shares of NFLX opened at $933.85 on Friday. The stock’s fifty day simple moving average is $971.74 and its 200 day simple moving average is $866.75. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. 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 firm has a market capitalization of $399.46 billion, a P/E ratio of 47.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the company posted $2.11 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share 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.