Southpoint Capital Advisors LP Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Southpoint Capital Advisors LP purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the first quarter, HoldingsChannel reports. The institutional investor purchased 300,000 shares of the Internet television network’s stock, valued at approximately $103,644,000. Netflix comprises about 2.3% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 17th largest position.

A number of other large investors have also recently modified their holdings of NFLX. Fairfield Bush & CO. boosted its position in shares of Netflix by 26.5% during the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after acquiring an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after buying an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after buying an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Netflix by 6.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after buying an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Netflix by 13.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after buying an additional 441 shares in the last quarter. Institutional investors own 79.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NFLX. Jefferies Financial Group raised their price objective on Netflix from $440.00 to $520.00 in a report on Tuesday, July 18th. Rosenblatt Securities raised their price objective on Netflix from $358.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and raised their price objective for the company from $425.00 to $500.00 in a report on Friday, August 25th. Evercore ISI lifted their price target on Netflix from $400.00 to $550.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $500.00 price target on shares of Netflix in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.91.

Insider Transactions at Netflix

In related news, Director Richard N. Barton sold 500 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $438.52, for a total value of $219,260.00. Following the completion of the transaction, the director now directly owns 86 shares of the company’s stock, valued at $37,712.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $438.52, for a total value of $219,260.00. Following the completion of the transaction, the director now owns 86 shares in the company, valued at $37,712.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 943 shares of Netflix stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $450.00, for a total value of $424,350.00. Following the completion of the transaction, the director now owns 421,491 shares of the company’s stock, valued at approximately $189,670,950. The disclosure for this sale can be found here. Insiders have sold 124,877 shares of company stock valued at $54,326,139 in the last ninety days. Corporate insiders own 2.45% of the company’s stock.

Netflix Stock Up 1.1 %

Shares of NFLX stock traded up $5.07 during mid-day trading on Monday, hitting $447.87. The company’s stock had a trading volume of 1,871,868 shares, compared to its average volume of 6,974,028. The business has a 50-day moving average price of $433.23 and a 200 day moving average price of $381.15. Netflix, Inc. has a 52-week low of $211.73 and a 52-week high of $485.00. The stock has a market cap of $198.47 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 1.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.33 and a current ratio of 1.33.

Netflix (NASDAQ:NFLX) last issued its earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.44. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.29 billion. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $3.20 EPS. Research analysts predict that Netflix, Inc. will post 11.92 EPS for the current fiscal year.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.