Kovitz Investment Group Partners LLC Acquires Shares of 412 Netflix, Inc. (NASDAQ:NFLX)

Kovitz Investment Group Partners LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 412 shares of the Internet television network’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. raised its position in Netflix by 2.8% during the second quarter. BlackRock Inc. now owns 29,171,135 shares of the Internet television network’s stock valued at $13,274,032,000 after purchasing an additional 797,481 shares in the last quarter. Jennison Associates LLC raised its position in Netflix by 1.7% during the second quarter. Jennison Associates LLC now owns 9,099,165 shares of the Internet television network’s stock valued at $4,140,484,000 after purchasing an additional 148,672 shares in the last quarter. Bank of New York Mellon Corp raised its position in Netflix by 24.4% during the second quarter. Bank of New York Mellon Corp now owns 3,873,203 shares of the Internet television network’s stock valued at $1,762,464,000 after purchasing an additional 759,686 shares in the last quarter. Fisher Asset Management LLC raised its position in Netflix by 5.0% during the second quarter. Fisher Asset Management LLC now owns 3,406,249 shares of the Internet television network’s stock valued at $1,549,980,000 after purchasing an additional 161,395 shares in the last quarter. Finally, Morgan Stanley raised its position in Netflix by 39.7% during the first quarter. Morgan Stanley now owns 2,685,577 shares of the Internet television network’s stock valued at $1,008,435,000 after purchasing an additional 763,798 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

In related news, Director Jay C. Hoag sold 21,119 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $467.89, for a total value of $9,881,368.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Reed Hastings sold 177,681 shares of the company’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $527.86, for a total transaction of $93,790,692.66. Following the completion of the sale, the chief executive officer now owns 32,739 shares in the company, valued at approximately $17,281,608.54. The disclosure for this sale can be found here. Insiders sold a total of 246,280 shares of company stock worth $126,820,118 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Shares of NASDAQ NFLX opened at $488.24 on Friday. The firm’s 50-day moving average price is $504.74 and its 200-day moving average price is $480.73. Netflix, Inc. has a 1-year low of $290.25 and a 1-year high of $575.37. The firm has a market capitalization of $215.70 billion, a P/E ratio of 78.75, a P/E/G ratio of 2.65 and a beta of 1.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.50.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 20th. The Internet television network reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.13 by ($0.39). Netflix had a return on equity of 31.48% and a net margin of 11.78%. The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the prior year, the company earned $1.47 EPS. The company’s revenue was up 22.7% on a year-over-year basis. Equities research analysts forecast that Netflix, Inc. will post 6.26 EPS for the current year.

NFLX has been the topic of a number of research reports. TheStreet cut shares of Netflix from a “b” rating to a “c+” rating in a research note on Monday, November 16th. Royal Bank of Canada boosted their target price on shares of Netflix from $610.00 to $630.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Morgan Stanley boosted their target price on shares of Netflix from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. Piper Sandler boosted their target price on shares of Netflix from $630.00 to $643.00 in a research note on Friday, October 30th. Finally, The Goldman Sachs Group set a $670.00 target price on shares of Netflix and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have given a buy rating to the stock. Netflix presently has a consensus rating of “Buy” and an average target price of $528.39.

About Netflix

Netflix, Inc provides subscription streaming entertainment service. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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