271,700 Shares in Netflix, Inc. (NASDAQ:NFLX) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 271,700 shares of the Internet television network’s stock, valued at approximately $183,365,000. Renaissance Technologies LLC owned about 0.06% of Netflix at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted 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 acquiring an additional 3,273,592 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Netflix during the 1st quarter worth $1,450,476,000. Jennison Associates LLC boosted its stake in shares of Netflix by 17.0% during 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 during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Netflix during the 1st quarter worth $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the 1st quarter worth $372,293,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock valued at $129,552,672 in the last three months. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NFLX shares. Pivotal Research lifted their price target on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Redburn Atlantic raised their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. TD Cowen raised their price objective on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Bank of America raised their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Evercore ISI raised their price objective on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Netflix Price Performance

NFLX stock opened at $697.06 on Monday. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $660.00 and a 200 day moving average price of $637.88. The stock has a market cap of $299.16 billion, a PE ratio of 48.37, a P/E/G ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS 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 during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the previous year, the company earned $3.29 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share 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.