Cerity Partners LLC Has $59.20 Million Position in Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

Cerity Partners LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 43.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,471 shares of the Internet television network’s stock after buying an additional 25,207 shares during the period. Cerity Partners LLC’s holdings in Netflix were worth $59,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in 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 worth $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Netflix by 154.7% in the third 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 buying an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. bought a new stake in Netflix in the first quarter valued at approximately $372,293,000. Swedbank AB bought a new stake in Netflix in the first quarter valued at approximately $216,538,000. Finally, Jennison Associates LLC raised its stake in 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 during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Up 0.0 %

NASDAQ:NFLX opened at $897.79 on Friday. The company has a current ratio of 1.13, a quick 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 company has a market cap of $383.77 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25. The company has a 50 day simple moving average of $755.40 and a two-hundred day simple moving average of $690.93.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In other news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction 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 sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock valued at $133,393,921 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on NFLX shares. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research note on Friday, October 18th. China Renaissance started coverage on Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective on the stock. Sanford C. Bernstein upped their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Rosenblatt Securities upped their target price on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Evercore ISI upped their target price on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

View Our Latest Analysis on Netflix

Netflix Profile

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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.

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