Intech Investment Management LLC Has $72.02 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Intech Investment Management LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 14.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 101,547 shares of the Internet television network’s stock after selling 17,037 shares during the period. Netflix comprises 0.8% of Intech Investment Management LLC’s holdings, making the stock its 14th biggest position. Intech Investment Management LLC’s holdings in Netflix were worth $72,024,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. DigitalBridge Group Inc. lifted its position in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Netflix by 27.5% during the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after purchasing an additional 664 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after purchasing an additional 30,511 shares during the period. Finally, Forsta AP Fonden increased its stake in shares of Netflix by 7.7% during the third quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after purchasing an additional 8,700 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,866 shares of company stock valued at $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $883.85 on Thursday. 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 50 day moving average price of $747.20 and a two-hundred day moving average price of $686.80. The firm has a market capitalization of $377.81 billion, a P/E ratio of 50.02, a P/E/G ratio of 1.68 and a beta of 1.25. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $890.60.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities increased their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price target (up previously from $770.00) on shares of Netflix in a research note on Friday, October 18th. Pivotal Research lifted their price target on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp raised their price objective on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $758.76.

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.