Netflix, Inc. $NFLX Stock Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,592,769 shares of the Internet television network’s stock after acquiring an additional 64,321 shares during the quarter. King Luther Capital Management Corp owned approximately 0.06% of Netflix worth $180,405,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Nykredit A S bought a new stake in Netflix in the 2nd quarter valued at $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 worth $15,253,000 after purchasing an additional 47,339 shares in the last quarter. Boomfish Wealth Group LLC boosted its holdings in shares of Netflix by 91.5% during 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 purchasing an additional 16,510 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Netflix during the 2nd quarter valued at about $37,743,000. Finally, Sarasin & Partners LLP boosted its holdings in shares of Netflix by 10.5% during 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 purchasing an additional 259,794 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Up 2.0%

NASDAQ NFLX opened at $64.54 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a 52 week low of $61.39 and a 52 week high of $116.73. The firm has a market capitalization of $265.02 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.93 and a beta of 1.62. The company has a fifty day moving average of $70.00 and a two-hundred day moving average of $80.65.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Trending Headlines about Netflix

Here are a few of the latest headlines about NFLX:

• Positive Sentiment: Netflix’s latest reported quarter showed EPS of $0.87, above the $0.82 consensus, while revenue grew 11.9% year over year. That growth and earnings performance offer some support amid the stock’s selloff.
• Neutral Sentiment: Netflix expects about $12 billion in free cash flow this year and has spent more than $10.7 billion on share repurchases through September. The company has not announced a dividend, so returns to shareholders are currently centered on buybacks. Article: Will Netflix Ever Pay a Dividend?
• Negative Sentiment: Co-CEO Gregory Peters sold 27,312 shares, reducing his direct holdings by 18.61%. The sale may add to near-term caution, although the filing alone does not establish the reason for the transaction. Article: Netflix CEO Gregory Peters Sells 27,312 Shares

Insider Activity at Netflix

In related news, insider David Hyman sold 5,727 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total transaction of $369,677.85. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory Peters sold 27,312 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $63.62, for a total transaction of $1,737,589.44. Following the completion of the sale, the chief executive officer directly owned 119,412 shares in the company, valued at $7,596,991.44. This trade represents a 18.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 89,024 shares of company stock worth $5,788,733 in the last three months. 1.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research reports. CICC Research reduced their target price on Netflix from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. BMO Capital Markets reissued an “outperform” rating and set a $125.00 price target (down from $135.00) on shares of Netflix in a research note on Friday, October 16th. JPMorgan Chase & Co. dropped their price target on Netflix from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Guggenheim cut their price target on Netflix from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. Finally, Bank of America reduced their price objective on Netflix from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $89.14.

Netflix Profile

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.