Harvest Fund Management Co. Ltd Has $22 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Harvest Fund Management Co. Ltd increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 36.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,022 shares of the Internet television network’s stock after purchasing an additional 8,359 shares during the quarter. Netflix makes up about 1.3% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 14th largest holding. Harvest Fund Management Co. Ltd’s holdings in Netflix were worth $22,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in NFLX. Epoch Investment Partners Inc. bought a new position in Netflix in the 1st quarter valued at approximately $260,000. Waverly Advisors LLC lifted its holdings in shares of Netflix by 58.2% during the first quarter. Waverly Advisors LLC now owns 3,368 shares of the Internet television network’s stock worth $2,046,000 after purchasing an additional 1,239 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Netflix by 26.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,670 shares of the Internet television network’s stock worth $1,014,000 after purchasing an additional 349 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its stake in shares of Netflix by 3.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 560 shares of the Internet television network’s stock worth $340,000 after purchasing an additional 20 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in Netflix by 1.6% in the first quarter. Icon Wealth Advisors LLC now owns 11,008 shares of the Internet television network’s stock valued at $6,686,000 after purchasing an additional 171 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,866 shares of company stock valued at $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.0 %

NFLX stock opened at $897.79 on Monday. The stock’s 50 day moving average is $755.40 and its 200-day moving average is $691.50. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00. The firm has a market capitalization of $383.77 billion, a PE ratio of 50.81, a P/E/G 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 posted its 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 fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of analyst reports. The Goldman Sachs Group set a $750.00 price target on Netflix in a research report on Friday, October 18th. Pivotal Research increased their target price on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Wedbush restated an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Canaccord Genuity Group upped their price objective on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Finally, Benchmark reissued a “sell” rating and set a $545.00 target price on shares of Netflix in a research note on Tuesday, October 15th. Two 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

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.