Essex Savings Bank Has $1.64 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Essex Savings Bank increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,844 shares of the Internet television network’s stock after acquiring an additional 79 shares during the quarter. Essex Savings Bank’s holdings in Netflix were worth $1,644,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Netflix by 154.7% during the 3rd 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 acquiring an additional 642,920 shares in the last quarter. State Street Corp grew its stake in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Jennison Associates LLC raised its holdings in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Netflix in the 3rd quarter worth approximately $222,871,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Loop Capital cut Netflix from a “buy” rating to a “hold” rating and upped their price target for the company from $800.00 to $950.00 in a research report on Monday, December 16th. Rosenblatt Securities upped their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Needham & Company LLC lifted their price target on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Benchmark raised their price objective on shares of Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $845.82.

Netflix Stock Up 2.4 %

Shares of NFLX stock opened at $848.26 on Thursday. The company has a market capitalization of $362.60 billion, a price-to-earnings ratio of 48.01, a P/E/G ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 12-month low of $475.26 and a 12-month high of $941.75. The firm has a fifty day moving average of $881.04 and a 200-day moving average of $755.96. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its quarterly 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. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is owned by corporate insiders.

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.