Investment Management Corp of Ontario Purchases 34,242 Shares of Netflix, Inc. (NASDAQ:NFLX)

Investment Management Corp of Ontario grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 358.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,800 shares of the Internet television network’s stock after acquiring an additional 34,242 shares during the period. Netflix comprises approximately 0.7% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 22nd biggest holding. Investment Management Corp of Ontario’s holdings in Netflix were worth $31,066,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake 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 in the last quarter. International Assets Investment Management LLC boosted its stake in 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 purchasing an additional 5,748,200 shares during the period. Baillie Gifford & Co. grew its position in Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Fisher Asset Management LLC grew its position in Netflix by 2.8% during the third quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after purchasing an additional 123,987 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after acquiring an additional 104,332 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on NFLX. Guggenheim boosted their target price on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group boosted their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a research note on Friday, October 18th. Finally, Needham & Company LLC boosted their price target on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $775.58.

Insiders Place Their Bets

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 stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,792 shares of company stock valued at $116,320,533. 1.76% of the stock is currently owned by corporate insiders.

Netflix Price Performance

NFLX opened at $897.11 on Tuesday. The company’s 50 day simple moving average is $773.01 and its 200-day simple moving average is $700.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $383.48 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 1.71 and a beta of 1.27. Netflix, Inc. has a one year low of $445.73 and a one year high of $908.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate 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 net margin of 20.70% and a return on equity of 35.86%. Sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

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.