Wellington Management Group LLP Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Wellington Management Group LLP raised its position in Netflix, Inc. (NASDAQ:NFLX) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,897,389 shares of the Internet television network’s stock after acquiring an additional 23,702 shares during the quarter. Netflix makes up approximately 0.6% of Wellington Management Group LLP’s portfolio, making the stock its 29th biggest position. Wellington Management Group LLP owned 1.15% of Netflix worth $3,473,571,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. New World Advisors LLC grew its position in shares of Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares during the last quarter. Heartland Bank & Trust Co increased its position in Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares in the last quarter. Cedrus LLC boosted its stake in shares of Netflix by 0.8% during the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after acquiring an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC boosted its stake in shares of Netflix by 0.6% during the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after acquiring an additional 15 shares during the last quarter. Finally, Meritas Wealth Management LLC increased its position in Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NFLX. Wells Fargo & Company upped their target price on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Bank of America upped their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore ISI raised their price objective on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday. Finally, TD Cowen raised their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two 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 stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $783.00.

Insider Buying and Selling

In other news, 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 value of $518,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,155 shares of company stock worth $159,682,799. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $917.87 on Friday. The firm has a 50-day moving average of $788.37 and a two-hundred day moving average of $707.66. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $392.35 billion, a P/E ratio of 51.95, a PEG ratio of 1.74 and a beta of 1.27. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $927.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

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.