Netflix, Inc. (NASDAQ:NFLX) Stock Position Lifted by Congress Asset Management Co.

Congress Asset Management Co. grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,722 shares of the Internet television network’s stock after purchasing an additional 9,353 shares during the period. Congress Asset Management Co.’s holdings in Netflix were worth $94,845,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NFLX. Denver PWM LLC acquired a new position in shares of Netflix during the 2nd quarter valued at about $25,000. Proffitt & Goodson Inc. increased its holdings in shares of 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 acquiring an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased 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 acquiring an additional 42 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in Netflix in the 2nd quarter valued at approximately $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

NFLX stock traded up $3.49 during trading on Thursday, reaching $757.23. The company’s stock had a trading volume of 588,926 shares, compared to its average volume of 3,692,985. The company’s fifty day moving average is $710.23 and its 200-day moving average is $662.33. Netflix, Inc. has a 1 year low of $404.63 and a 1 year high of $773.00. The company has a market capitalization of $323.69 billion, a P/E ratio of 42.84, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup raised their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Redburn Atlantic raised their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. UBS Group raised their target price on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Sanford C. Bernstein raised their target price on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $748.15.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 5,698 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $185,976. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,810 shares of company stock valued at $142,049,542. Insiders own 1.76% of the company’s stock.

Netflix 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.