Netflix, Inc. $NFLX Position Boosted by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 141.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,818 shares of the Internet television network’s stock after buying an additional 30,368 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Netflix were worth $3,643,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. Nykredit A S purchased a new stake in shares of Netflix during the second quarter worth about $105,697,000. Rockland Trust Co. lifted its stake in Netflix by 27.5% in the 3rd quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network’s stock valued at $15,253,000 after buying an additional 47,339 shares in the last quarter. Boomfish Wealth Group LLC lifted its stake in Netflix by 91.5% in the 3rd quarter. Boomfish Wealth Group LLC now owns 34,547 shares of the Internet television network’s stock valued at $2,404,000 after buying an additional 16,510 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Netflix in the 2nd quarter valued at about $37,743,000. Finally, Sarasin & Partners LLP lifted its stake in Netflix by 10.5% in the 2nd quarter. Sarasin & Partners LLP now owns 2,736,198 shares of the Internet television network’s stock valued at $195,365,000 after buying an additional 259,794 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, insider David Hyman sold 5,727 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $64.55, for a total transaction of $369,677.85. Following the completion of the transaction, the insider directly owned 166,100 shares in the company, valued at approximately $10,721,755. This represents a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Theodore Sarandos sold 27,312 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $66.20, for a total value of $1,808,054.40. Following the sale, the chief executive officer directly owned 178,954 shares of the company’s stock, valued at $11,846,754.80. The trade was a 13.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 61,712 shares of company stock worth $4,051,144. Corporate insiders own 1.24% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the subject of several research reports. KeyCorp cut their price objective on Netflix from $92.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. Rosenblatt Securities set a $71.00 target price on Netflix and gave the company a “neutral” rating in a report on Wednesday, October 21st. Seaport Research Partners set a $85.00 target price on Netflix in a research report on Wednesday, October 21st. Evercore restated an “outperform” rating and issued a $90.00 target price on shares of Netflix in a research report on Wednesday, October 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price target (down from $85.00) on shares of Netflix in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus target price of $89.14.

Netflix Trading Up 0.9%

NFLX opened at $63.95 on Tuesday. The stock has a market capitalization of $262.60 billion, a PE ratio of 18.48, a P/E/G ratio of 0.97 and a beta of 1.62. Netflix, Inc. has a one year low of $61.39 and a one year high of $116.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50 day moving average price is $70.68 and its 200 day moving average price is $80.86.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.05. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The company had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.87 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Netflix, Inc. will post 3.59 EPS for the current year.

About Netflix

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.