Lord Abbett & CO. LLC Has $206.58 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lord Abbett & CO. LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 20.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,259 shares of the Internet television network’s stock after buying an additional 48,538 shares during the period. Lord Abbett & CO. LLC’s holdings in Netflix were worth $206,581,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Advisory Resource Group raised its position in shares of Netflix by 0.7% during the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after buying an additional 12 shares during the last quarter. New World Advisors LLC boosted its stake in Netflix by 2.0% during the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after buying an additional 14 shares during the last quarter. Heartland Bank & Trust Co grew its holdings in Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after buying an additional 15 shares in the last quarter. Cedrus LLC increased its stake in Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after acquiring an additional 15 shares during the last quarter. Finally, Capstone Triton Financial Group LLC boosted its position in shares of Netflix by 0.6% during 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 acquiring an additional 15 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $918.87 on Friday. Netflix, Inc. has a 1 year low of $461.86 and a 1 year high of $941.75. 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 stock has a 50-day moving average price of $814.02 and a two-hundred day moving average price of $719.34. The stock has a market cap of $392.78 billion, a PE ratio of 52.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27.

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

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the 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 transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,405 shares of company stock valued at $129,623,487. 1.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on NFLX. Needham & Company LLC increased their price objective on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Wedbush reaffirmed an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Jefferies Financial Group boosted their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler reissued an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $787.85.

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.