Ionic Capital Management LLC Acquires New Stake in Netflix, Inc. (NASDAQ:NFLX)

Ionic Capital Management LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 500 shares of the Internet television network’s stock, valued at approximately $355,000.

Several other large investors have also made changes to their positions in NFLX. International Assets Investment Management LLC boosted its position 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 purchasing an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. raised its position 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 valued at $750,713,000 after buying an additional 642,920 shares during the last quarter. Jennison Associates LLC lifted its stake 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. Westfield Capital Management Co. LP purchased a new position in Netflix in the third quarter valued at about $222,871,000. Finally, AustralianSuper Pty Ltd raised its stake in Netflix by 12,243.4% during the third quarter. AustralianSuper Pty Ltd now owns 290,071 shares of the Internet television network’s stock worth $205,739,000 after acquiring an additional 287,721 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Sanford C. Bernstein upped their price target on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Guggenheim raised their price target on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Morgan Stanley raised their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Canaccord Genuity Group boosted their price objective on shares of Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $775.58.

Netflix Trading Up 1.2 %

Shares of NASDAQ NFLX opened at $897.74 on Tuesday. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00. The company has a 50-day moving average of $773.01 and a two-hundred day moving average of $700.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $383.75 billion, a PE ratio of 50.81, a P/E/G ratio of 1.71 and a beta of 1.27.

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

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. This represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. This trade represents a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,792 shares of company stock valued at $116,320,533 in the last three months. Company insiders own 1.76% of the company’s stock.

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.