Larson Financial Group LLC Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Larson Financial Group LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 10.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,462 shares of the Internet television network’s stock after purchasing an additional 233 shares during the period. Larson Financial Group LLC’s holdings in Netflix were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NFLX. International Assets Investment Management LLC raised its stake in shares of Netflix by 116,620.0% during the third 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 last quarter. Assenagon Asset Management S.A. raised its stake in shares of Netflix by 154.7% during 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 during the last quarter. Swedbank AB purchased a new stake in shares of Netflix during the first quarter worth approximately $216,538,000. Jennison Associates LLC raised its position in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in Netflix by 12,243.4% in the third quarter. AustralianSuper Pty Ltd now owns 290,071 shares of the Internet television network’s stock valued at $205,739,000 after acquiring an additional 287,721 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX opened at $897.79 on Monday. The stock’s 50-day simple moving average is $755.40 and its 200 day simple moving average is $691.50. The company has a market cap of $383.77 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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 return on equity of 35.86% and a net margin of 20.70%. As a group, sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Pivotal Research raised their target price on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. TD Cowen lifted their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, Oppenheimer lifted their price objective on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $764.82.

Insider Activity

In related news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is owned by insiders.

About Netflix

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.