Freedom Investment Management Inc. Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Freedom Investment Management Inc. boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,804 shares of the Internet television network’s stock after acquiring an additional 30 shares during the quarter. Freedom Investment Management Inc.’s holdings in Netflix were worth $1,989,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the period. Swedbank AB purchased a new position in Netflix during the first quarter valued at approximately $216,538,000. Jennison Associates LLC lifted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the 3rd quarter worth approximately $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock opened at $872.60 on Wednesday. The business’s 50 day moving average price is $762.10 and its 200 day moving average price is $695.13. The company has a market cap of $373.00 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.67 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a one year low of $445.73 and a one year high of $908.00.

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 analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling

In other news, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NFLX shares. 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 research note on Wednesday, October 9th. Macquarie reiterated an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. Guggenheim increased their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Bank of America lifted their price target on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Sanford C. Bernstein upped their price target on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Company 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.