Ratan Capital Management LP bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,100 shares of the Internet television network’s stock, valued at approximately $3,278,000. Netflix makes up approximately 2.1% of Ratan Capital Management LP’s investment portfolio, making the stock its 18th largest position.
Other institutional investors and hedge funds have also made changes to their positions in the company. TCI Wealth Advisors Inc. raised its position in shares of Netflix by 710.8% during the 1st quarter. TCI Wealth Advisors Inc. now owns 527 shares of the Internet television network’s stock valued at $156,000 after acquiring an additional 462 shares in the last quarter. Clearwater Capital Advisors LLC acquired a new stake in shares of Netflix during the 1st quarter valued at approximately $158,000. Whittier Trust Co. raised its position in shares of Netflix by 91.4% during the 1st quarter. Whittier Trust Co. now owns 536 shares of the Internet television network’s stock valued at $158,000 after acquiring an additional 256 shares in the last quarter. Glassman Wealth Services raised its position in shares of Netflix by 298.5% during the 1st quarter. Glassman Wealth Services now owns 538 shares of the Internet television network’s stock valued at $159,000 after acquiring an additional 403 shares in the last quarter. Finally, James Hambro & Partners acquired a new stake in shares of Netflix during the 4th quarter valued at approximately $106,000. 77.34% of the stock is currently owned by institutional investors.
Netflix traded up $2.30, hitting $395.17, during trading hours on Friday, MarketBeat Ratings reports. 2,575,038 shares of the stock traded hands, compared to its average volume of 7,368,467. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.63. Netflix, Inc. has a one year low of $144.25 and a one year high of $395.03. The stock has a market capitalization of $165.15 billion, a P/E ratio of 316.13, a P/E/G ratio of 4.95 and a beta of 1.00.
In related news, Director Leslie J. Kilgore sold 1,224 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $382.99, for a total value of $468,779.76. Following the completion of the transaction, the director now owns 35,811 shares in the company, valued at approximately $13,715,254.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 86,037 shares of the stock in a transaction on Monday, May 21st. The shares were sold at an average price of $329.73, for a total value of $28,368,980.01. Following the completion of the transaction, the chief executive officer now owns 86,037 shares of the company’s stock, valued at approximately $28,368,980.01. The disclosure for this sale can be found here. Insiders sold a total of 275,919 shares of company stock valued at $90,089,624 in the last quarter. 4.29% of the stock is currently owned by corporate insiders.
NFLX has been the topic of several research reports. Vetr lowered Netflix from a “hold” rating to a “sell” rating and set a $300.13 price target on the stock. in a research report on Monday, March 26th. Zacks Investment Research raised Netflix from a “hold” rating to a “buy” rating and set a $329.00 price target on the stock in a research report on Friday, April 6th. Bank of America upped their price target on Netflix from $300.00 to $347.00 and gave the company a “buy” rating in a research report on Tuesday, April 17th. Citigroup upped their price target on Netflix from $250.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, March 28th. Finally, Buckingham Research upped their price target on Netflix from $257.00 to $277.00 and gave the company a “neutral” rating in a research report on Friday, April 13th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $297.58.
Netflix Company Profile
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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