Baker Avenue Asset Management LP Purchases 16 Shares of Netflix, Inc. (NASDAQ:NFLX)

Baker Avenue Asset Management LP lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,354 shares of the Internet television network’s stock after purchasing an additional 16 shares during the period. Baker Avenue Asset Management LP’s holdings in Netflix were worth $17,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Denver PWM LLC acquired a new stake in Netflix in the 2nd quarter valued at $25,000. Proffitt & Goodson Inc. grew its position in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. AlphaMark Advisors LLC grew its position in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares in the last quarter. Finally, First Personal Financial Services purchased a new stake in Netflix during the third quarter worth approximately $40,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NFLX. Loop Capital boosted their price objective on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Macquarie reiterated an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research note on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Insider Activity

In related news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $22,127,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 value 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,112 shares of company stock worth $169,954,456. 1.76% of the stock is currently owned by insiders.

Netflix Stock Down 0.2 %

Netflix stock traded down $1.50 during midday trading on Friday, hitting $795.04. 1,910,626 shares of the company were exchanged, compared to its average volume of 3,927,056. The company’s fifty day moving average price is $721.55 and its 200-day moving average price is $670.54. The company has a market cap of $339.85 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a fifty-two week low of $434.35 and a fifty-two week high of $799.06.

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

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.