Algert Global LLC Buys Shares of 3,490 Netflix, Inc. (NASDAQ:NFLX)

Algert Global LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,490 shares of the Internet television network’s stock, valued at approximately $2,475,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Canopy Partners LLC raised its holdings in Netflix by 2.2% in the third quarter. Canopy Partners LLC now owns 969 shares of the Internet television network’s stock valued at $687,000 after acquiring an additional 21 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Netflix by 9.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 53,191 shares of the Internet television network’s stock valued at $37,727,000 after purchasing an additional 4,571 shares during the period. Cerity Partners LLC boosted its holdings in shares of Netflix by 43.3% in the third quarter. Cerity Partners LLC now owns 83,471 shares of the Internet television network’s stock valued at $59,203,000 after acquiring an additional 25,207 shares during the period. Great Valley Advisor Group Inc. boosted its stake in Netflix by 5.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,354 shares of the Internet television network’s stock worth $5,925,000 after purchasing an additional 431 shares during the period. Finally, Nicolet Advisory Services LLC grew its holdings in shares of Netflix by 7.9% during the third quarter. Nicolet Advisory Services LLC now owns 1,376 shares of the Internet television network’s stock worth $973,000 after buying an additional 101 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

NFLX opened at $872.60 on Wednesday. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $908.00. The stock has a market cap of $373.00 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.73 and a beta of 1.25. The business has a 50 day moving average of $762.10 and a 200-day moving average of $695.13. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, equities research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NFLX shares. Piper Sandler reiterated an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Bank of America lifted their price target on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Evercore ISI raised their target price on shares of Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Macquarie reiterated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research report on Friday, October 18th. Finally, Oppenheimer lifted their price objective on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $764.82.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now owns 95,040 shares in the company, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is currently owned by corporate insiders.

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.