Magellan Asset Management Ltd grew its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 23.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 615,882 shares of the Internet television network’s stock after purchasing an additional 118,418 shares during the period. Netflix comprises approximately 2.5% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 16th biggest holding. Magellan Asset Management Ltd owned approximately 0.14% of Netflix worth $232,557,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. boosted its position in shares of Netflix by 26.5% in the first quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after acquiring an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Netflix by 21.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after purchasing an additional 84,179 shares during the period. Sequoia Financial Advisors LLC lifted its position in Netflix by 14.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after purchasing an additional 363 shares during the period. Candriam Luxembourg S.C.A. lifted its position in Netflix by 6.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after purchasing an additional 2,358 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Netflix by 13.1% during the first quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after purchasing an additional 441 shares during the period. 79.95% of the stock is currently owned by institutional investors and hedge funds.
Netflix Stock Performance
Shares of Netflix stock traded up $15.12 during trading hours on Thursday, hitting $588.47. 3,522,222 shares of the company’s stock traded hands, compared to its average volume of 5,609,525. Netflix, Inc. has a 12-month low of $285.33 and a 12-month high of $597.00. The stock has a market capitalization of $254.67 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 1.57 and a beta of 1.22. The company has a fifty day simple moving average of $519.05 and a 200-day simple moving average of $455.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12.
Netflix (NASDAQ:NFLX – Get Free Report) last announced its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business had revenue of $8.83 billion for the quarter, compared to analysts’ expectations of $8.72 billion. During the same period in the prior year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Netflix, Inc. will post 16.93 EPS for the current fiscal year.
Wall Street Analyst Weigh In
NFLX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Netflix from a “buy” rating to a “hold” rating and upped their price objective for the stock from $460.00 to $525.00 in a research report on Wednesday, January 24th. Bank of America upped their price objective on shares of Netflix from $585.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Barclays upped their price objective on shares of Netflix from $375.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Seaport Res Ptn downgraded Netflix from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 30th. Finally, Morgan Stanley boosted their target price on Netflix from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $553.33.
View Our Latest Analysis on NFLX
Insider Buying and Selling
In related news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 7,230 shares of Netflix stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $500.00, for a total value of $3,615,000.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $6,545,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,857 shares of company stock valued at $148,790,491. 2.45% of the stock is owned by 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.
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