Victory Capital Management Inc. Has $461.50 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Victory Capital Management Inc. reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 517,776 shares of the Internet television network’s stock after selling 13,187 shares during the period. Netflix makes up 0.5% of Victory Capital Management Inc.’s holdings, making the stock its 25th biggest holding. Victory Capital Management Inc.’s holdings in Netflix were worth $461,504,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Swedbank AB raised its position in shares of Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after acquiring an additional 8,024 shares during the period. Moloney Securities Asset Management LLC acquired a new stake in Netflix in the third quarter worth $777,000. United Advisor Group LLC boosted its position in shares of Netflix by 23.0% during the third quarter. United Advisor Group LLC now owns 839 shares of the Internet television network’s stock worth $595,000 after purchasing an additional 157 shares in the last quarter. Geneva Partners LLC acquired a new position in shares of Netflix in the 3rd quarter valued at $3,704,000. Finally, Pittenger & Anderson Inc. increased its position in shares of Netflix by 30.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 2,314 shares of the Internet television network’s stock valued at $1,641,000 after buying an additional 541 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NFLX shares. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased their target price on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. UBS Group raised their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Guggenheim upped their price target on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, 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 report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Stock Down 0.1 %

Shares of NASDAQ NFLX opened at $972.58 on Wednesday. The company has a 50 day simple moving average of $949.77 and a 200 day simple moving average of $837.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm has a market cap of $416.03 billion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27.

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

Netflix Profile

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.