Pacer Advisors Inc. Has $43.90 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Pacer Advisors Inc. trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,892 shares of the Internet television network’s stock after selling 2,664 shares during the period. Pacer Advisors Inc.’s holdings in Netflix were worth $43,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in 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 acquiring an additional 642,920 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new position in Netflix during the 1st quarter valued at about $372,293,000. Swedbank AB bought a new stake in Netflix during the 1st quarter worth approximately $216,538,000. Finally, Jennison Associates LLC lifted its holdings in shares of Netflix by 4.7% in the third 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 in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $896.05 on Friday. The business has a 50-day simple moving average of $751.39 and a 200 day simple moving average of $688.25. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $908.00. The stock has a market cap of $383.03 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25. 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 (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. On average, research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction on 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 transaction, the director now owns 95,040 shares in the company, valued at $65,299,132.80. This trade represents a 31.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent research reports. KeyCorp increased their price target on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Benchmark reissued a “sell” rating and set a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Bank of America upped their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $764.82.

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.