Massachusetts Financial Services Co. MA Acquires 229,271 Shares of Netflix, Inc. (NASDAQ:NFLX)

Massachusetts Financial Services Co. MA grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5,835.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,200 shares of the Internet television network's stock after purchasing an additional 229,271 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.05% of Netflix worth $165,402,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. DigitalBridge Group Inc. raised its holdings in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network's stock valued at $24,338,000 after acquiring an additional 9,451 shares during the period. Natixis Advisors LLC grew its holdings in Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network's stock valued at $434,398,000 after buying an additional 11,921 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Netflix by 27.5% during the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network's stock valued at $2,182,000 after buying an additional 664 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Netflix by 58.2% in 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 acquiring an additional 30,511 shares during the period. Finally, Forsta AP Fonden grew its stake in 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 acquiring an additional 8,700 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. StockNews.com upgraded shares of Netflix from a "hold" rating to a "buy" rating in a research note on Tuesday, September 24th. KeyCorp lifted their price objective on Netflix from $760.00 to $785.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Rosenblatt Securities boosted their target price on Netflix from $635.00 to $680.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price target on Netflix in a report on Friday, October 18th. Finally, Barclays reissued an "underweight" rating and set a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Two 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $764.82.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,392 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is currently owned by corporate insiders.

Netflix Price Performance

Shares of NFLX stock opened at $897.79 on Friday. 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 fifty-two week low of $445.73 and a fifty-two week high of $908.00. The firm has a market cap of $383.77 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25. The business's 50 day moving average price is $755.40 and its 200-day moving average price is $690.93.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $9.77 billion. On average, equities research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

About Netflix

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.