Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Cumberland Partners Ltd

Cumberland Partners Ltd raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 59.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,780 shares of the Internet television network’s stock after buying an additional 2,160 shares during the period. Cumberland Partners Ltd’s holdings in Netflix were worth $4,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Denver PWM LLC acquired a new position in shares of Netflix during the second quarter worth $25,000. Proffitt & Goodson Inc. boosted its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in Netflix during the 2nd quarter valued at $38,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. China Renaissance assumed coverage on shares of Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Barclays reissued an “underweight” rating and set a $550.00 target price on shares of Netflix in a report on Friday, October 18th. Jefferies Financial Group increased their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $840.00 target price (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Netflix Price Performance

Shares of NASDAQ:NFLX traded up $6.47 during trading hours on Tuesday, hitting $811.91. 634,030 shares of the company’s stock traded hands, compared to its average volume of 3,656,245. Netflix, Inc. has a 52 week low of $442.60 and a 52 week high of $816.74. 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 company’s fifty day simple moving average is $723.63 and its two-hundred day simple moving average is $673.70. The company has a market cap of $347.06 billion, a price-to-earnings ratio of 45.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25.

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, 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 company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. As a group, equities analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Leslie J. Kilgore sold 1,372 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total transaction of $966,999.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 204,437 shares of company stock worth $146,229,378 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Netflix Company 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.