Kornitzer Capital Management Inc. KS Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Kornitzer Capital Management Inc. KS grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,599 shares of the Internet television network’s stock after purchasing an additional 38 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Netflix were worth $6,099,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. DigitalBridge Group Inc. raised its stake in shares of Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the period. M&G Plc purchased a new stake in shares of Netflix during the first quarter valued at approximately $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised 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 valued at $55,968,000 after purchasing an additional 30,511 shares during the period. Forsta AP Fonden raised 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 valued at $86,105,000 after purchasing an additional 8,700 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Netflix during the first quarter worth approximately $1,304,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Citigroup raised their price target on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets reissued an “outperform” rating and set a $825.00 price target (up previously from $770.00) on shares of Netflix in a research report on Friday, October 18th. Morgan Stanley raised their price target on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Wolfe Research reissued an “outperform” rating 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 given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 242,112 shares of company stock worth $169,954,456 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $796.54 on Friday. Netflix, Inc. has a fifty-two week low of $433.68 and a fifty-two week high of $798.22. The firm’s 50-day simple moving average is $717.59 and its 200 day simple moving average is $667.98. 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 stock has a market cap of $340.49 billion, a P/E ratio of 45.08, a P/E/G ratio of 1.46 and a beta of 1.25.

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.