Harvest Fund Management Co. Ltd Buys 8,359 Shares of Netflix, Inc. (NASDAQ:NFLX)

Harvest Fund Management Co. Ltd lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 36.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,022 shares of the Internet television network’s stock after acquiring an additional 8,359 shares during the period. Netflix makes up about 1.3% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 14th largest holding. Harvest Fund Management Co. Ltd’s holdings in Netflix were worth $22,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NFLX. International Assets Investment Management LLC grew its stake in shares of 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 acquiring an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in 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 bought a new position in Netflix in the first quarter valued at $216,538,000. Jennison Associates LLC increased its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix during the 3rd quarter worth about $222,871,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 0.0 %

NASDAQ NFLX opened at $897.79 on Monday. 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 company has a market cap of $383.77 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. The company has a 50 day moving average of $755.40 and a 200-day moving average of $691.50. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00.

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

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,490,250. The trade was a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were 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 directly owns 85 shares in the company, valued at approximately $60,023.60. This represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 over the last quarter. 1.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NFLX. Oppenheimer lifted their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein increased their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Needham & Company LLC raised their target price on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, UBS Group upped their price target on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two 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 stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

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.