Summit Global Investments Buys 259 Shares of Netflix, Inc. (NASDAQ:NFLX)

Summit Global Investments increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 35.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 999 shares of the Internet television network’s stock after buying an additional 259 shares during the period. Summit Global Investments’ holdings in Netflix were worth $709,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the period. International Assets Investment Management LLC grew its stake in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. increased its position in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the period. Legal & General Group Plc raised its stake in Netflix by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after purchasing an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Netflix by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after purchasing an additional 83,762 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the sale, the insider now owns 31,610 shares in the company, valued at $22,127,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider David A. Hyman sold 267 shares of the firm’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 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 13,791 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at $22,127,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,112 shares of company stock worth $169,954,456. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $795.04 on Friday. The stock has a market capitalization of $339.85 billion, a PE ratio of 44.99, a PEG ratio of 1.50 and a beta of 1.25. The business’s 50 day simple moving average is $721.55 and its 200 day simple moving average is $670.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a one year low of $434.35 and a one year high of $799.06.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating 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 company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. TD Cowen raised their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company lifted their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Guggenheim increased their target price on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Wolfe Research restated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Finally, Wedbush upped their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Two investment 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. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $748.15.

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.