True North Advisors LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

True North Advisors LLC increased its position in Netflix, Inc. (NASDAQ:NFLX) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 409 shares of the Internet television network’s stock after acquiring an additional 28 shares during the quarter. True North Advisors LLC’s holdings in Netflix were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. State Street Corp increased its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC increased its stake in 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 acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC raised its position 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 valued at $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,198 shares of company stock valued at $127,616,898. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Bank of America boosted their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday. UBS Group increased their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup boosted their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised their price objective on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Stock Performance

Shares of Netflix stock opened at $953.99 on Thursday. The stock has a market cap of $407.79 billion, a price-to-earnings ratio of 48.11, a PEG ratio of 1.41 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1 year low of $481.40 and a 1 year high of $999.00. The firm’s 50-day moving average is $886.64 and its 200 day moving average is $762.07.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 23.43 EPS for the current fiscal 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.