Netflix, Inc. (NASDAQ:NFLX) Position Lifted by Allstate Corp

Allstate Corp raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 3,171.0% in the 4th quarter, according to its most recent filing with the SEC. The fund 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.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB lifted its holdings in Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the last quarter. First National Trust Co lifted its stake in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after purchasing an additional 12 shares during the last quarter. Haven Private LLC acquired a new position in Netflix in the fourth quarter worth $733,000. Sigma Planning Corp increased its stake in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Down 4.4 %

NFLX stock opened at $933.85 on Friday. The company has a 50 day moving average of $971.74 and a two-hundred day moving average of $866.75. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a market cap of $399.46 billion, a price-to-earnings ratio of 47.09, a PEG 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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the firm earned $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. Loop Capital reissued a “hold” rating on shares of Netflix in a report on Monday. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Morgan Stanley upped their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 2,682 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is 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.