Geneva Partners LLC Makes New $3.70 Million Investment in Netflix, Inc. (NASDAQ:NFLX)

Geneva Partners LLC acquired a new position in Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,222 shares of the Internet television network’s stock, valued at approximately $3,704,000. Netflix accounts for 1.6% of Geneva Partners LLC’s investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. DigitalBridge Group Inc. increased its holdings in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. M&G Plc acquired a new stake in shares of Netflix in the first quarter valued at about $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares during the period. Forsta AP Fonden lifted its position in Netflix by 7.7% during the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Koshinski Asset Management Inc. purchased a new position in Netflix in the 1st quarter worth approximately $1,304,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX stock opened at $755.51 on Tuesday. Netflix, Inc. has a 12-month low of $429.61 and a 12-month high of $773.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $322.95 billion, a price-to-earnings ratio of 42.76, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The business has a 50 day simple moving average of $714.30 and a 200 day simple moving average of $665.72.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $64,435.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 229,477 shares of company stock worth $160,300,776. 1.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NFLX shares. The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a research report on Friday, October 18th. Loop Capital upped their price objective on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Guggenheim lifted their target price on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Citigroup increased their price target on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group lifted their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $748.15.

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.