Martingale Asset Management L P Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Martingale Asset Management L P lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 322.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,438 shares of the Internet television network’s stock after purchasing an additional 3,387 shares during the quarter. Martingale Asset Management L P’s holdings in Netflix were worth $3,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC raised its stake in shares of Netflix by 4.7% in 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. International Assets Investment Management LLC raised its position 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 acquiring an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. raised its position in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares in the last quarter. Fisher Asset Management LLC raised 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 acquiring an additional 123,987 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Netflix by 3.1% during the second 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 in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction on Thursday, September 12th. The shares were 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 owns 95,040 shares in the company, valued at $65,299,132.80. This represents a 31.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,866 shares of company stock valued at $133,393,921. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX opened at $886.81 on Friday. The stock’s fifty day moving average is $773.01 and its two-hundred day moving average is $699.54. The firm has a market capitalization of $379.07 billion, a P/E ratio of 50.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. 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.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Wedbush reiterated an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Loop Capital lifted their price target on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Rosenblatt Securities lifted their price target on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America lifted their price target on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $764.82.

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.