Worth Asset Management LLC Boosts Position in Netflix, Inc. (NASDAQ:NFLX)

Worth Asset Management LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 154.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 997 shares of the Internet television network’s stock after purchasing an additional 605 shares during the quarter. Worth Asset Management LLC’s holdings in Netflix were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. GQG Partners LLC acquired a new stake in Netflix in the 1st quarter valued at $1,450,476,000. Jennison Associates LLC increased its holdings in Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Netflix in the 1st quarter worth $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new stake in Netflix in the 1st quarter worth $372,293,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NFLX shares. The Goldman Sachs Group boosted their price target on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Redburn Atlantic boosted their price target on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Citigroup boosted their price target on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Oppenheimer boosted their price target on shares of Netflix from $725.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Macquarie reaffirmed an “outperform” rating and set a $685.00 target price on shares of Netflix in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $697.35.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now owns 95,040 shares in the company, valued at $65,299,132.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 224,784 shares of company stock worth $150,212,870. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.2 %

NFLX stock opened at $731.44 on Friday. The company’s 50 day moving average price is $684.42 and its 200 day moving average price is $650.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $733.85. The firm has a market capitalization of $313.91 billion, a price-to-earnings ratio of 45.64, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Netflix Company 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.