Cullinan Associates Inc. Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)
Cullinan Associates Inc. trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 900 shares of the Internet television network’s stock after selling 100 shares during the period. Cullinan Associates Inc.’s holdings in Netflix were worth $291,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Netflix by 1.3% during the 3rd quarter. State Street Corp now owns 16,453,029 shares of the Internet television network’s stock valued at $4,403,160,000 after buying an additional 218,262 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Netflix by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,748,186 shares of the Internet television network’s stock valued at $5,784,623,000 after buying an additional 297,582 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Netflix during the 2nd quarter valued at about $1,246,724,000. Fisher Asset Management LLC raised its holdings in shares of Netflix by 142.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,216,329 shares of the Internet television network’s stock valued at $593,134,000 after buying an additional 1,302,678 shares in the last quarter. Finally, Viking Global Investors LP grew its position in Netflix by 3.4% during the 2nd quarter. Viking Global Investors LP now owns 2,067,698 shares of the Internet television network’s stock worth $759,507,000 after acquiring an additional 68,322 shares during the last quarter. 80.80% of the stock is currently owned by institutional investors.
Shares of NFLX stock opened at $339.07 on Thursday. The firm has a market cap of $148.29 billion, a P/E ratio of 126.52, a P/E/G ratio of 2.07 and a beta of 1.28. Netflix, Inc. has a fifty-two week low of $252.28 and a fifty-two week high of $385.99. The business’s 50 day moving average price is $320.71 and its 200-day moving average price is $308.14. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.73 and a current ratio of 0.73.
In related news, CEO Reed Hastings sold 54,516 shares of Netflix stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $312.04, for a total transaction of $17,011,172.64. Following the sale, the chief executive officer now directly owns 54,516 shares in the company, valued at $17,011,172.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.29% of the company’s stock.
Several research firms recently issued reports on NFLX. Goldman Sachs Group raised their price target on Netflix from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday. Aegis restated a “hold” rating and set a $275.00 price target on shares of Netflix in a research report on Tuesday, October 22nd. Imperial Capital restated a “buy” rating and set a $446.00 price target on shares of Netflix in a research report on Monday, December 30th. Royal Bank of Canada reduced their price target on Netflix from $450.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Rosenblatt Securities restated a “hold” rating and set a $265.00 price target on shares of Netflix in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $373.29.
Netflix Company Profile
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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