Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,990,874 shares of the Internet television network's stock after acquiring an additional 316,594 shares during the quarter. Netflix comprises 3.1% of Jennison Associates LLC's investment portfolio, making the stock its 8th biggest holding. Jennison Associates LLC owned about 1.64% of Netflix worth $4,958,417,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Commerce Bank increased its stake in shares of Netflix by 7.4% during the 3rd quarter. Commerce Bank now owns 23,570 shares of the Internet television network's stock worth $16,717,000 after purchasing an additional 1,621 shares during the last quarter. Strategy Asset Managers LLC purchased a new stake in shares of Netflix during the 3rd quarter worth approximately $378,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Netflix during the 3rd quarter worth approximately $28,966,000. Prospera Private Wealth LLC increased its stake in shares of Netflix by 2.8% during the 3rd quarter. Prospera Private Wealth LLC now owns 778 shares of the Internet television network's stock worth $552,000 after purchasing an additional 21 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of Netflix by 1.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,621 shares of the Internet television network's stock worth $3,278,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now owns 85 shares of the company's stock, valued at $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,277 shares of company stock valued at $132,875,601. Corporate insiders own 1.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NFLX. Evercore ISI lifted their price objective on shares of Netflix from $750.00 to $775.00 and gave the company an "outperform" rating in a research note on Friday, October 18th. KeyCorp lifted their price objective on shares of Netflix from $760.00 to $785.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. BMO Capital Markets reiterated an "outperform" rating and issued a $825.00 price objective (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Wedbush reiterated an "outperform" rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday. Finally, Piper Sandler reissued an "overweight" rating and issued a $840.00 price target (up from $800.00) on shares of Netflix 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $758.76.

Netflix Stock Up 0.5 %

NASDAQ:NFLX traded up $4.65 during trading hours on Wednesday, reaching $875.97. The company's stock had a trading volume of 3,047,171 shares, compared to its average volume of 3,659,211. The stock has a 50 day moving average price of $743.15 and a two-hundred day moving average price of $685.41. 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 12 month low of $445.73 and a 12 month high of $890.33. The company has a market capitalization of $374.44 billion, a P/E ratio of 49.36, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts' consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

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.