Brown Brothers Harriman & Co. Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Brown Brothers Harriman & Co. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,356 shares of the Internet television network’s stock after buying an additional 214 shares during the period. Brown Brothers Harriman & Co.’s holdings in Netflix were worth $3,090,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd lifted its position in Netflix by 36.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 31,022 shares of the Internet television network’s stock valued at $22,003,000 after purchasing an additional 8,359 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Netflix during the 3rd quarter valued at about $2,793,000. Fisher Asset Management LLC lifted its holdings in shares of Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after acquiring an additional 123,987 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Netflix by 20.4% during the third quarter. Daiwa Securities Group Inc. now owns 378,004 shares of the Internet television network’s stock valued at $268,106,000 after purchasing an additional 64,149 shares during the period. Finally, Hartford Funds Management Co LLC boosted its holdings in shares of Netflix by 4.1% in the 3rd quarter. Hartford Funds Management Co LLC now owns 1,024 shares of the Internet television network’s stock worth $727,000 after purchasing an additional 40 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. 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. 1.76% of the stock is owned by insiders.

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. Benchmark restated a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price target (up from $770.00) on shares of Netflix in a report on Friday, October 18th. Bank of America boosted their price objective on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Finally, Rosenblatt Securities upped their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Stock Down 3.6 %

Shares of NASDAQ NFLX opened at $865.59 on Tuesday. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company’s 50-day simple moving average is $758.78 and its 200-day simple moving average is $693.29. The firm has a market cap of $370.00 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Equities analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Netflix 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.