Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Covenant Asset Management LLC

Covenant Asset Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 19.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,451 shares of the Internet television network’s stock after purchasing an additional 1,736 shares during the period. Netflix comprises 1.2% of Covenant Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Covenant Asset Management LLC’s holdings in Netflix were worth $7,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Denver PWM LLC purchased a new stake in shares of Netflix in the 2nd quarter valued at approximately $25,000. Proffitt & Goodson Inc. increased its position in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Netflix by 700.0% in 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 buying an additional 42 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of 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, MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Sanford C. Bernstein raised their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price objective (up previously from $770.00) on shares of Netflix in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a report on Friday, October 18th. Finally, UBS Group boosted their target price on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Stock Up 1.4 %

Shares of NASDAQ:NFLX opened at $896.05 on Friday. The business’s 50 day moving average is $751.39 and its 200 day moving average is $688.25. 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, Inc. has a 12-month low of $445.73 and a 12-month high of $908.00. The stock has a market cap of $383.03 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25.

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

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,490,250. The trade was a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,866 shares of company stock valued at $133,393,921. Insiders own 1.76% of the company’s stock.

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.