Netflix, Inc. (NASDAQ:NFLX) Holdings Lifted by MAI Capital Management

MAI Capital Management increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.6% in the 3rd quarter, Holdings Channel reports. The fund owned 60,265 shares of the Internet television network’s stock after purchasing an additional 3,208 shares during the period. MAI Capital Management’s holdings in Netflix were worth $42,744,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NFLX. Aljian Capital Management LLC increased its stake in shares of Netflix by 6.2% in the third quarter. Aljian Capital Management LLC now owns 8,347 shares of the Internet television network’s stock worth $5,920,000 after acquiring an additional 489 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Netflix by 6.6% in the third quarter. Thrivent Financial for Lutherans now owns 70,276 shares of the Internet television network’s stock valued at $49,844,000 after purchasing an additional 4,348 shares in the last quarter. Claro Advisors LLC grew its stake in Netflix by 47.6% in the third quarter. Claro Advisors LLC now owns 3,679 shares of the Internet television network’s stock valued at $2,609,000 after purchasing an additional 1,186 shares in the last quarter. Adero Partners LLC raised its stake in shares of Netflix by 2.5% during the 3rd quarter. Adero Partners LLC now owns 860 shares of the Internet television network’s stock worth $610,000 after purchasing an additional 21 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC lifted its holdings in shares of Netflix by 386.5% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 2,306 shares of the Internet television network’s stock valued at $1,636,000 after buying an additional 1,832 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. UBS Group raised their price target on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. KeyCorp upped their price objective on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Evercore ISI raised their target price on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company increased their price objective on Netflix from $758.00 to $797.00 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 issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $748.15.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total value of $334,319.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total value of $517,722.93. The disclosure for this sale can be found here. Insiders have sold a total of 205,084 shares of company stock worth $146,747,101 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $823.96 on Monday. The business has a 50 day simple moving average of $735.77 and a 200 day simple moving average of $681.37. Netflix, Inc. has a one year low of $445.73 and a one year high of $841.00. The company has a market capitalization of $352.21 billion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. 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 (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS 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.