Chesley Taft & Associates LLC Takes $1.39 Million Position in Netflix, Inc. (NFLX)

Chesley Taft & Associates LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,718 shares of the Internet television network’s stock, valued at approximately $1,391,000.

A number of other hedge funds also recently added to or reduced their stakes in NFLX. BlackRock Inc. lifted its holdings in shares of Netflix by 2.3% in the second quarter. BlackRock Inc. now owns 27,436,409 shares of the Internet television network’s stock valued at $10,739,434,000 after purchasing an additional 619,795 shares in the last quarter. FMR LLC lifted its holdings in shares of Netflix by 6.1% in the second quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after purchasing an additional 1,534,290 shares in the last quarter. Edgewood Management LLC lifted its holdings in shares of Netflix by 2.3% in the second quarter. Edgewood Management LLC now owns 2,523,740 shares of the Internet television network’s stock valued at $987,868,000 after purchasing an additional 55,566 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Netflix by 1.6% in the second quarter. Morgan Stanley now owns 2,364,657 shares of the Internet television network’s stock valued at $925,600,000 after purchasing an additional 37,425 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Netflix by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,581,565 shares of the Internet television network’s stock valued at $619,072,000 after purchasing an additional 65,394 shares in the last quarter. 73.76% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Reed Hastings sold 77,672 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $323.01, for a total transaction of $25,088,832.72. Following the completion of the transaction, the chief executive officer now owns 77,672 shares of the company’s stock, valued at $25,088,832.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $399.01, for a total transaction of $399,010.00. Following the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $399,010. The disclosure for this sale can be found here. Insiders have sold 420,428 shares of company stock valued at $149,631,503 in the last ninety days. 4.29% of the stock is currently owned by company insiders.

Shares of NFLX stock opened at $339.56 on Friday. Netflix, Inc. has a one year low of $178.38 and a one year high of $423.21. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.86. The company has a market cap of $162.92 billion, a P/E ratio of 267.18, a P/E/G ratio of 4.67 and a beta of 0.89.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 16th. The Internet television network reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. Netflix had a net margin of 7.13% and a return on equity of 25.66%. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the business posted $0.15 earnings per share. Netflix’s revenue for the quarter was up 40.3% compared to the same quarter last year. Research analysts anticipate that Netflix, Inc. will post 2.67 EPS for the current year.

Several analysts have issued reports on NFLX shares. Societe Generale reaffirmed a “sell” rating and issued a $180.00 price target on shares of Netflix in a report on Friday, July 6th. BidaskClub downgraded shares of Netflix from a “buy” rating to a “hold” rating in a report on Saturday, October 6th. SunTrust Banks upped their price target on shares of Netflix from $270.00 to $415.00 and gave the company a “hold” rating in a report on Friday, July 13th. Stifel Nicolaus raised shares of Netflix from a “hold” rating to a “buy” rating and set a $406.00 price target on the stock in a report on Tuesday, July 17th. Finally, Goldman Sachs Group set a $470.00 price target on shares of Netflix and gave the company a “buy” rating in a report on Tuesday, October 2nd. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $355.45.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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