Martingale Asset Management L P Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Martingale Asset Management L P raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 322.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,438 shares of the Internet television network’s stock after buying an additional 3,387 shares during the quarter. Martingale Asset Management L P’s holdings in Netflix were worth $3,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix in the third quarter valued at $25,000. Denver PWM LLC purchased a new position in shares of Netflix in the second quarter valued at $25,000. Proffitt & Goodson Inc. grew its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 1.1 %

Shares of Netflix stock opened at $886.81 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $379.07 billion, a P/E ratio of 50.19, a PEG ratio of 1.69 and a beta of 1.25. The firm’s 50 day moving average price is $773.01 and its 200-day moving average price is $699.54. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, sell-side analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. This trade represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the 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 sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock valued at $133,393,921 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NFLX shares. TD Cowen raised their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Rosenblatt Securities raised their target price on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. UBS Group raised their price target on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Benchmark restated a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $840.00 price target (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

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.