SSI Investment Management LLC Purchases New Shares in Netflix, Inc. (NASDAQ:NFLX)

SSI Investment Management LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 289 shares of the Internet television network’s stock, valued at approximately $205,000.

Other institutional investors also recently added to or reduced their stakes in the company. DigitalBridge Group Inc. lifted its stake in shares of Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Netflix by 27.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after purchasing an additional 664 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Netflix by 58.2% during the second 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. Finally, Forsta AP Fonden lifted its holdings in shares of Netflix by 7.7% in the third quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after buying an additional 8,700 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $883.85 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $890.60. The stock has a market cap of $377.81 billion, a P/E ratio of 50.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The firm’s fifty day simple moving average is $747.20 and its 200 day simple moving average is $686.80.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating 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 firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 45,290 shares of Netflix 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 completion of the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,866 shares of company stock worth $133,393,921. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price target (up previously from $800.00) on shares of Netflix in a report on Monday. Oppenheimer raised their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Canaccord Genuity Group boosted their price objective on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a research report on Friday, October 18th. Finally, Evercore ISI lifted their target price on shares of Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $758.76.

About Netflix

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.