Hartford Funds Management Co LLC Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Hartford Funds Management Co LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,024 shares of the Internet television network’s stock after acquiring an additional 40 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Netflix were worth $727,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NFLX. Advisors Asset Management Inc. boosted its stake in shares of Netflix by 10.2% during the 1st quarter. Advisors Asset Management Inc. now owns 5,092 shares of the Internet television network’s stock worth $3,093,000 after acquiring an additional 471 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in Netflix in the 1st quarter valued at about $260,000. Caxton Associates LP purchased a new position in Netflix in the 1st quarter valued at about $11,945,000. Captrust Financial Advisors lifted its stake in Netflix by 161.3% in the 1st quarter. Captrust Financial Advisors now owns 289,801 shares of the Internet television network’s stock valued at $176,005,000 after buying an additional 178,903 shares in the last quarter. Finally, Waverly Advisors LLC lifted its stake in Netflix by 58.2% in the 1st quarter. Waverly Advisors LLC now owns 3,368 shares of the Internet television network’s stock valued at $2,046,000 after buying an additional 1,239 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NFLX. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Morgan Stanley raised their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $825.00 price target (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Macquarie reaffirmed an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Finally, The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a report on Friday, October 18th. Two equities 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. This trade represents a 31.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. This represents a 99.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.0 %

Netflix stock opened at $897.79 on Friday. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50 day moving average price of $755.40 and a 200 day moving average price of $690.93. The company has a market capitalization of $383.77 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating 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 firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Research analysts expect that Netflix, Inc. will post 19.78 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.