Great Valley Advisor Group Inc. Has $5.93 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Great Valley Advisor Group Inc. boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,354 shares of the Internet television network’s stock after purchasing an additional 431 shares during the period. Great Valley Advisor Group Inc.’s holdings in Netflix were worth $5,925,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Jennison Associates LLC increased its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Baillie Gifford & Co. increased its position in Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after acquiring an additional 104,332 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after acquiring an additional 83,762 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Oppenheimer lifted their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Evercore ISI upped their price target on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Rosenblatt Securities increased their price objective on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company boosted their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Stock Performance

NASDAQ NFLX opened at $897.79 on Friday. The stock has a fifty day simple moving average of $755.40 and a 200 day simple moving average of $690.93. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00. The company has a market capitalization of $383.77 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. 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 (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, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Sell-side analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Insiders Place Their Bets

In related news, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of the business’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 value of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Company 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.