Bellwether Advisors LLC Acquires New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Bellwether Advisors LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,650 shares of the Internet television network's stock, valued at approximately $1,170,000.

Several other large investors also recently added to or reduced their stakes in NFLX. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% during the third 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 in the last quarter. Assenagon Asset Management S.A. lifted 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 valued at $750,713,000 after purchasing an additional 642,920 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix in the first quarter worth about $372,293,000. Swedbank AB purchased a new position in shares of Netflix in the first quarter worth about $216,538,000. Finally, Jennison Associates LLC increased its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. Guggenheim lifted their price target on shares of Netflix from $810.00 to $825.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Morgan Stanley boosted their price objective on shares of Netflix from $820.00 to $830.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Wedbush reissued an "outperform" rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday. Wells Fargo & Company boosted their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Finally, Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Two 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. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $758.76.

Netflix Stock Performance

Shares of NFLX traded up $12.53 during trading hours on Wednesday, hitting $883.85. The stock had a trading volume of 4,088,428 shares, compared to its average volume of 3,663,830. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day moving average price of $743.15 and a 200 day moving average price of $685.41. The firm has a market capitalization of $377.81 billion, a price-to-earnings ratio of 49.36, a PEG ratio of 1.59 and a beta of 1.25. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $890.60.

Netflix (NASDAQ:NFLX - Get Free Report) last released 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now owns 85 shares of the company's stock, valued at $57,878.20. The trade was a 99.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the sale, the chief executive officer now owns 13,090 shares of the company's stock, valued at approximately $9,490,250. This represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock valued at $133,393,921 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

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.