Benjamin Edwards Inc. Raises Position in Netflix, Inc. (NASDAQ:NFLX)

Benjamin Edwards Inc. lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3,971.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,587 shares of the Internet television network’s stock after acquiring an additional 10,327 shares during the quarter. Benjamin Edwards Inc.’s holdings in Netflix were worth $7,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Jennison Associates LLC grew its holdings in Netflix by 4.7% during 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 purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC boosted its stake 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 buying an additional 5,748,200 shares during the period. Baillie Gifford & Co. raised its position in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares in the last quarter. Fisher Asset Management LLC raised its position in Netflix by 2.8% during the third quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after purchasing an additional 123,987 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Netflix by 3.1% during the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after purchasing an additional 104,332 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In related news, Director Timothy M. Haley sold 647 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 160,792 shares of company stock valued at $116,320,533 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NFLX. KeyCorp raised their price target on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Guggenheim lifted their price objective on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. China Renaissance started coverage on Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective on the stock. UBS Group lifted their price objective on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $775.58.

Netflix Stock Performance

Netflix stock opened at $897.74 on Tuesday. The stock’s 50 day simple moving average is $773.01 and its two-hundred day simple moving average is $700.75. 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 stock has a market cap of $383.75 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 1.71 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

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.