Fortitude Family Office LLC Boosts Position in Netflix, Inc. (NASDAQ:NFLX)

Fortitude Family Office LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 74.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 298 shares of the Internet television network’s stock after purchasing an additional 127 shares during the period. Fortitude Family Office LLC’s holdings in Netflix were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in Netflix by 116,620.0% during the 3rd 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 in the last quarter. GQG Partners LLC acquired a new stake in shares of Netflix during the 1st quarter worth about $1,450,476,000. Jennison Associates LLC grew its holdings in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the first quarter valued at approximately $372,293,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,409 shares of company stock worth $158,213,518 in the last three months. 1.76% of the stock is owned by insiders.

Analysts Set New Price Targets

NFLX has been the subject of several analyst reports. Needham & Company LLC boosted their price target on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Macquarie reiterated an “outperform” rating and issued a $795.00 target price on shares of Netflix in a research note on Friday, October 18th. Wells Fargo & Company increased their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Benchmark reiterated a “sell” rating and set a $545.00 price objective on shares of Netflix in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Trading Down 0.7 %

NASDAQ:NFLX opened at $749.12 on Tuesday. The stock has a market cap of $320.22 billion, a price-to-earnings ratio of 42.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. Netflix, Inc. has a one year low of $399.41 and a one year high of $773.00. 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 business’s 50-day simple moving average is $707.88 and its 200 day simple moving average is $660.73.

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.