SSI Investment Management LLC Acquires New Position in Netflix, Inc. (NASDAQ:NFLX)

SSI Investment Management LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 289 shares of the Internet television network’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Denver PWM LLC purchased a new position in shares of Netflix during the second quarter valued at approximately $25,000. Proffitt & Goodson Inc. raised its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Netflix by 700.0% during 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 buying an additional 42 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix in the third quarter worth $37,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America raised their target price on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Needham & Company LLC boosted their target price 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. Morgan Stanley increased their price target on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group raised their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $758.76.

Netflix Stock Up 1.4 %

NASDAQ:NFLX opened at $883.85 on Thursday. The company’s 50-day simple moving average is $747.20 and its 200-day simple moving average is $686.80. 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 fifty-two week low of $445.73 and a fifty-two week high of $890.60. The stock has a market capitalization of $377.81 billion, a P/E ratio of 50.02, a P/E/G ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $9.77 billion. On average, equities analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $57,878.20. This represents a 99.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Company insiders own 1.76% of the company’s stock.

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.