Covenant Partners LLC Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Covenant Partners LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,284 shares of the Internet television network’s stock after acquiring an additional 16 shares during the period. Covenant Partners LLC’s holdings in Netflix were worth $911,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. DigitalBridge Group Inc. raised its holdings in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares in the last quarter. M&G Plc acquired a new position in shares of Netflix during the first quarter worth $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Netflix by 58.2% in 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 last quarter. First Trust Direct Indexing L.P. increased its holdings in Netflix by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock valued at $6,274,000 after buying an additional 1,342 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Netflix by 13.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 60,721 shares of the Internet television network’s stock worth $36,878,000 after buying an additional 7,406 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Redburn Atlantic boosted their price objective on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. TD Cowen increased their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, UBS Group lifted their price objective on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $747.70.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 229,711 shares of company stock valued at $153,905,830 in the last three months. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock traded up $0.13 during mid-day trading on Friday, hitting $754.68. The company’s stock had a trading volume of 2,819,473 shares, compared to its average volume of 3,721,664. Netflix, Inc. has a twelve month low of $395.62 and a twelve month high of $773.00. The stock’s fifty day moving average price is $706.67 and its two-hundred day moving average price is $659.30. The stock has a market capitalization of $322.60 billion, a P/E ratio of 42.71, a P/E/G ratio of 1.48 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

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.