Erste Asset Management GmbH Takes $145.25 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Erste Asset Management GmbH purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 204,839 shares of the Internet television network’s stock, valued at approximately $145,252,000. Netflix comprises approximately 1.7% of Erste Asset Management GmbH’s portfolio, making the stock its 7th largest position.

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 approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in Netflix in the 3rd quarter worth approximately $25,000. Proffitt & Goodson Inc. lifted its holdings in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in Netflix by 700.0% in 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 buying an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its stake in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NFLX. Pivotal Research raised their price target on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. KeyCorp raised their target price on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Morgan Stanley upped their target price on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research 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 company’s stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction on 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 sale, 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. Over the last three months, insiders have sold 185,866 shares of company stock worth $133,393,921. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.1 %

Netflix stock opened at $886.81 on Friday. The company has a market cap of $379.08 billion, a price-to-earnings ratio of 50.19, a P/E/G ratio of 1.71 and a beta of 1.25. The firm has a 50-day moving average of $773.01 and a 200-day moving average of $700.14. 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 one year low of $445.73 and a one year high of $908.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities analysts expect that Netflix, Inc. will post 19.78 earnings per share 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.