Acadian Asset Management LLC Acquires 3,077 Shares of Netflix, Inc. (NASDAQ:NFLX)

Acadian Asset Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 15.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,840 shares of the Internet television network’s stock after acquiring an additional 3,077 shares during the quarter. Acadian Asset Management LLC’s holdings in Netflix were worth $13,868,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FORVIS Wealth Advisors LLC purchased a new position in shares of Netflix in the 4th quarter worth about $216,000. CX Institutional boosted its holdings in Netflix by 3.5% during the 4th quarter. CX Institutional now owns 2,667 shares of the Internet television network’s stock valued at $1,299,000 after acquiring an additional 89 shares during the period. HB Wealth Management LLC boosted its holdings in Netflix by 5.9% during the 4th quarter. HB Wealth Management LLC now owns 9,338 shares of the Internet television network’s stock valued at $4,546,000 after acquiring an additional 517 shares during the period. Global Trust Asset Management LLC boosted its holdings in Netflix by 6.7% during the 4th quarter. Global Trust Asset Management LLC now owns 798 shares of the Internet television network’s stock valued at $389,000 after acquiring an additional 50 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in Netflix by 24.1% during the 4th quarter. Ballentine Partners LLC now owns 5,093 shares of the Internet television network’s stock valued at $2,480,000 after acquiring an additional 988 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NFLX has been the subject of several analyst reports. Argus increased their target price on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of Netflix in a report on Friday. Wells Fargo & Company increased their price objective on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Canaccord Genuity Group cut Netflix from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Finally, Pivotal Research increased their price objective on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $680.76.

Insider Activity at Netflix

In related news, Director Anne M. Sweeney sold 633 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anne M. Sweeney sold 633 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,385 shares of company stock worth $44,469,351. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 1.5 %

Shares of NASDAQ:NFLX traded down $9.70 during trading hours on Friday, hitting $633.34. 9,815,631 shares of the company’s stock traded hands, compared to its average volume of 3,096,936. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $697.49. The business has a fifty day moving average price of $655.73 and a 200-day moving average price of $604.31. The firm has a market capitalization of $272.97 billion, a P/E ratio of 43.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 33.22% and a net margin of 19.54%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.29 earnings per share. Equities analysts expect that Netflix, Inc. will post 18.99 earnings per share for the current 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.