Great Valley Advisor Group Inc. Purchases 431 Shares of Netflix, Inc. (NASDAQ:NFLX)

Great Valley Advisor Group Inc. raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,354 shares of the Internet television network’s stock after purchasing an additional 431 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Netflix were worth $5,925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NFLX. International Assets Investment Management LLC boosted its position in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix during the 1st quarter worth approximately $372,293,000. Swedbank AB bought a new stake in shares of Netflix in the first quarter valued at $216,538,000. Finally, Jennison Associates LLC grew its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on 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 sale, the chairman now owns 85 shares in the company, valued at $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,490,250. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,866 shares of company stock valued at $133,393,921. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 0.0 %

Shares of NFLX stock opened at $897.79 on Friday. The business has a 50-day moving average of $755.40 and a 200 day moving average of $690.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00. The stock has a market capitalization of $383.77 billion, a PE ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last issued its 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 firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on NFLX. Piper Sandler reiterated an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank of America raised their price target on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC raised their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $764.82.

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.