BluePath Capital Management LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

BluePath Capital Management LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 21.9% during the fourth quarter, HoldingsChannel reports. The fund owned 1,775 shares of the Internet television network’s stock after acquiring an additional 319 shares during the quarter. Netflix comprises 0.8% of BluePath Capital Management LLC’s holdings, making the stock its 25th biggest position. BluePath Capital Management LLC’s holdings in Netflix were worth $1,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NFLX. State Street Corp raised its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% in 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 purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Netflix from $550.00 to $715.00 and gave the company an “underweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Canaccord Genuity Group boosted their target price on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Oppenheimer dropped their price target on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Guggenheim lifted their price target on Netflix from $825.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $845.82.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % 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, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

Netflix stock opened at $848.26 on Thursday. The company has a market cap of $362.60 billion, a price-to-earnings ratio of 48.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 12 month low of $475.26 and a 12 month high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50-day moving average is $881.04 and its 200-day moving average is $755.96.

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

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.