Highland Capital Management LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Highland Capital Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,434 shares of the Internet television network’s stock after acquiring an additional 305 shares during the quarter. Highland Capital Management LLC’s holdings in Netflix were worth $5,273,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new position in shares of Netflix during the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its position in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. Proffitt & Goodson Inc. grew its position in 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 acquiring an additional 38 shares during the last quarter. AlphaMark Advisors LLC increased its stake in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Finally, Triad Wealth Partners LLC bought a new stake in shares of Netflix during the second quarter worth $38,000. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 229,711 shares of company stock worth $153,905,830 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NFLX. Evercore ISI raised their price target on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America increased their price objective on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Pivotal Research lifted their target price on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, China Renaissance initiated coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $754.68 on Friday. Netflix, Inc. has a twelve month low of $395.62 and a twelve month high of $773.00. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a market cap of $322.60 billion, a PE ratio of 42.71, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. The company’s 50 day moving average is $706.67 and its 200 day moving average is $659.30.

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.