Zacks Investment Management Has $80.38 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Zacks Investment Management raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 113,323 shares of the Internet television network’s stock after acquiring an additional 8,795 shares during the quarter. Zacks Investment Management’s holdings in Netflix were worth $80,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. International Assets Investment Management LLC boosted its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares during the last quarter. State Street Corp boosted its stake in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Netflix in the 3rd quarter valued at $222,871,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX stock opened at $934.74 on Friday. The firm has a 50-day moving average of $788.37 and a 200-day moving average of $707.66. The company has a market cap of $399.56 billion, a P/E ratio of 52.90, a P/E/G ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a one year low of $448.32 and a one year high of $935.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Equities research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NFLX. Evercore ISI upped their price objective on shares of Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. KeyCorp increased their target price on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley increased their target price on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Canaccord Genuity Group increased their target price on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC increased their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $783.00.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,155 shares of company stock worth $159,682,799. Insiders own 1.76% of the company’s stock.

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.