Malaga Cove Capital LLC Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Malaga Cove Capital LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,584 shares of the Internet television network’s stock after acquiring an additional 22 shares during the quarter. Malaga Cove Capital LLC’s holdings in Netflix were worth $1,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NFLX. International Assets Investment Management LLC grew its stake in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. GQG Partners LLC bought a new position in Netflix during the first quarter worth about $1,450,476,000. Assenagon Asset Management S.A. increased its stake in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of Netflix in the first quarter valued at approximately $372,293,000. Finally, Swedbank AB purchased a new stake in shares of Netflix during the 1st quarter valued at approximately $216,538,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 2.1 %

NASDAQ:NFLX opened at $780.21 on Thursday. The company has a 50-day moving average price of $717.59 and a 200-day moving average price of $667.98. The stock has a market cap of $333.51 billion, a price-to-earnings ratio of 44.15, a P/E/G ratio of 1.46 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12 month low of $431.00 and a 12 month high of $781.49.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NFLX shares. Bank of America lifted their price objective on shares of Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Needham & Company LLC lifted their price target on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. China Renaissance initiated coverage on Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price for the company. 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. Finally, Wedbush upped their price target on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $748.15.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total transaction of $334,319.30. The disclosure for this sale can be found here. Insiders sold a total of 242,112 shares of company stock valued at $169,954,456 over the last three months. Corporate insiders own 1.76% of the company’s stock.

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.