Avity Investment Management Inc. Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Avity Investment Management Inc. increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 91.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,651 shares of the Internet television network’s stock after buying an additional 788 shares during the period. Avity Investment Management Inc.’s holdings in Netflix were worth $1,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP increased its stake in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC bought a new stake in Netflix in the first quarter worth about $1,450,476,000. Jennison Associates LLC raised its position in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Netflix in the first quarter worth about $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Netflix during the 1st quarter worth about $372,293,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 1.0 %

Shares of NASDAQ NFLX traded down $7.50 during mid-day trading on Friday, hitting $722.79. The company had a trading volume of 2,299,525 shares, compared to its average volume of 3,649,776. Netflix, Inc. has a one year low of $344.73 and a one year high of $736.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $311.52 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The firm has a 50-day simple moving average of $686.60 and a two-hundred day simple moving average of $651.18.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the company posted $3.29 earnings per share. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,490,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,167 shares of company stock worth $150,492,460. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NFLX shares. Jefferies Financial Group increased their price target on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. KeyCorp lifted their target price on shares of Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Guggenheim raised their price objective on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday. China Renaissance assumed coverage on Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Finally, Citigroup upped their price target on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $702.79.

About Netflix

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.