Geode Capital Management LLC Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Geode Capital Management LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,148,356 shares of the Internet television network’s stock after purchasing an additional 123,029 shares during the quarter. Netflix accounts for approximately 0.5% of Geode Capital Management LLC’s portfolio, making the stock its 25th largest position. Geode Capital Management LLC’s holdings in Netflix were worth $6,464,736,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NFLX. New World Advisors LLC increased its position in Netflix by 2.0% during the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after buying an additional 14 shares in the last quarter. Heartland Bank & Trust Co lifted its position in shares of Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after acquiring an additional 15 shares in the last quarter. Cedrus LLC boosted its stake in shares of Netflix by 0.8% during the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after acquiring an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC raised its stake in Netflix by 0.6% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after purchasing an additional 15 shares during the last quarter. Finally, Meritas Wealth Management LLC lifted its holdings in Netflix by 2.9% in the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after purchasing an additional 16 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Pivotal Research boosted their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Morgan Stanley increased their price target on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. KeyCorp lifted their price objective on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $783.00.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,155 shares of company stock valued at $159,682,799. Insiders own 1.76% of the company’s stock.

Netflix Trading Down 2.3 %

Shares of NFLX opened at $913.69 on Tuesday. Netflix, Inc. has a one year low of $457.21 and a one year high of $935.27. The stock has a 50-day moving average price of $797.01 and a 200 day moving average price of $712.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $390.57 billion, a P/E ratio of 51.71, a P/E/G ratio of 1.80 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its 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. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

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.