Arthur M. Cohen & Associates LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Arthur M. Cohen & Associates LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,648 shares of the Internet television network’s stock after purchasing an additional 186 shares during the quarter. Netflix makes up approximately 1.6% of Arthur M. Cohen & Associates LLC’s portfolio, making the stock its 14th largest holding. Arthur M. Cohen & Associates LLC’s holdings in Netflix were worth $8,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hanlon Investment Management Inc. raised its holdings in Netflix by 11.0% during the 3rd quarter. Hanlon Investment Management Inc. now owns 343 shares of the Internet television network’s stock valued at $243,000 after acquiring an additional 34 shares during the period. Pittenger & Anderson Inc. grew its position in shares of Netflix by 30.5% in the third quarter. Pittenger & Anderson Inc. now owns 2,314 shares of the Internet television network’s stock valued at $1,641,000 after purchasing an additional 541 shares in the last quarter. Geneva Partners LLC bought a new stake in shares of Netflix during the 3rd quarter valued at $3,704,000. United Advisor Group LLC lifted its holdings in Netflix by 23.0% during the 3rd quarter. United Advisor Group LLC now owns 839 shares of the Internet television network’s stock worth $595,000 after purchasing an additional 157 shares in the last quarter. Finally, Moloney Securities Asset Management LLC bought a new position in Netflix in the 3rd quarter worth about $777,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of analyst reports. Loop Capital upped their target price on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley lifted their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Evercore ISI upped their price objective on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $840.00 target price (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Stock Up 0.3 %

NASDAQ NFLX opened at $757.80 on Tuesday. Netflix, Inc. has a 1 year low of $429.61 and a 1 year high of $773.00. The stock has a market capitalization of $323.93 billion, a PE ratio of 42.76, a PEG ratio of 1.46 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50-day moving average is $714.30 and its 200 day moving average is $665.72.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at $64,435.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold a total of 229,477 shares of company stock worth $160,300,776 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Netflix Company 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.