Will Huge Netflix Stockholders Hold Firm Price Support in the $60s?
Surprisingly, for the year-to-date, shares of Netflix, Inc.(NASDAQ:NFLX) shares are only down 2.47 percent. On Tuesday, the company agreed to settle a class-action privacy lawsuit filed against them in March 2011. The suit alleged that Netflix violated the 1988 Video Privacy Protection Act (VPPA), which contends that for video rental services to disclose viewers’ video habits without their written consent, it is illegal.
The suit had been settled for $9 million without an admission of wrongdoing; $6.65 million of the money will go to different privacy organizations. In a statement by Netflix’s VP of Corporate Communications Steve Swasey, he said to Paid Content:
“Netflix has settled a lawsuit related to the company’s compliance with the Video Privacy Protection Act with no admission of wrongdoing. This matter is unrelated to the company’s concerns about the ambiguities contained in the VPPA, which keep Netflix from offering its U.S. members the ability to share their instant watching information with their Facebook friends, an experience Netflix members currently enjoy in 46 other countries.”
With the settlement of the class-action suit against Netflix, will its largest shareholders increase their positions? 247 institutional firms indicated owning shares of Netflix, Inc. (NASDAQ:NFLX) in Q1 2012. These firms reported owning a total of 27.054 million shares on 03/31/2012 . The shares closed at $115.04 on 03/31/2012,..
Here are the ten largest positions in Netflix, Inc. at the end of March 31st, 2012.
Sands Capital Management LLC held 3,793,709 shares on 03/31/2012 worth $436,428,287.
Morgan Stanley held 2,909,766 shares on 03/31/2012 worth $334,739,483.
Susquehanna International Group LLP held 2,811,300 shares on 03/31/2012 worth $323,412,000.
Davis Selected Advisers held 2,285,715 shares on 03/31/2012 worth $262,948,656.
State Street Corp held 2,018,900 shares on 03/31/2012 worth $232,254,258.
Susquehanna International Group LLP held 2,014,300 shares on 03/31/2012 worth $231,725,000.
Blackrock Institutional Trust Company N.A. held 1,438,265 shares on 03/31/2012 worth $165,458,007.
Neuberger Berman Group LLC held 1,158,887 shares on 03/31/2012 worth $133,318,362.
American Century Companies Inc held 988,538 shares on 03/31/2012 worth $113,721,412.
Blackrock Fund Advisors held 590,932 shares on 03/31/2012 worth $67,980,818.
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