Covenant Partners LLC Raises Position in Netflix, Inc. (NASDAQ:NFLX)

Covenant Partners LLC grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,284 shares of the Internet television network’s stock after buying an additional 16 shares during the quarter. Covenant Partners LLC’s holdings in Netflix were worth $911,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares during the period. Jennison Associates LLC boosted its position in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. International Assets Investment Management LLC grew its stake in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Netflix by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after purchasing an additional 104,332 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of a number of research analyst reports. Macquarie restated an “outperform” rating and set a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. UBS Group upped their price objective on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Argus raised their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. upped their price target on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, China Renaissance initiated coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $747.70.

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 229,711 shares of company stock valued at $153,905,830. 1.76% of the stock is owned by insiders.

Netflix Stock Performance

Shares of NFLX traded up $0.13 during trading hours on Friday, reaching $754.68. 2,819,473 shares of the company traded hands, compared to its average volume of 3,721,664. The stock has a market capitalization of $322.60 billion, a P/E ratio of 42.71, a P/E/G ratio of 1.48 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average price of $706.67 and a 200-day moving average price of $659.30. Netflix, Inc. has a 12-month low of $395.62 and a 12-month high of $773.00.

About Netflix

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.