Chesley Taft & Associates LLC Acquires New Position in Netflix, Inc. (NFLX)

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Netflix by 2.3% during the 2nd quarter. BlackRock Inc. now owns 27,436,409 shares of the Internet television network’s stock valued at $10,739,434,000 after acquiring an additional 619,795 shares during the last quarter. FMR LLC boosted its stake in Netflix by 6.1% during the 2nd quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after acquiring an additional 1,534,290 shares during the last quarter. Edgewood Management LLC boosted its stake in Netflix by 2.3% during the 2nd quarter. Edgewood Management LLC now owns 2,523,740 shares of the Internet television network’s stock valued at $987,868,000 after acquiring an additional 55,566 shares during the last quarter. Morgan Stanley boosted its stake in Netflix by 1.6% during the 2nd quarter. Morgan Stanley now owns 2,364,657 shares of the Internet television network’s stock valued at $925,600,000 after acquiring an additional 37,425 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Netflix by 4.3% during the 2nd 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 acquiring an additional 65,394 shares during the last quarter. Hedge funds and other institutional investors own 73.76% of the company’s stock.

A number of research analysts have commented on NFLX shares. UBS Group downgraded shares of Netflix from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $425.00 to $237.00 in a research note on Wednesday, July 11th. Goldman Sachs Group reiterated a “$375.13” rating and set a $470.00 price objective on shares of Netflix in a research note on Wednesday, July 18th. Atlantic Securities reiterated a “buy” rating and set a $413.00 price objective on shares of Netflix in a research note on Monday, September 3rd. SunTrust Banks increased their price objective on shares of Netflix from $270.00 to $415.00 and gave the company a “hold” rating in a research note on Friday, July 13th. Finally, Wells Fargo & Co increased their price objective on shares of Netflix from $370.00 to $385.00 and gave the company an “outperform” rating in a research note on Tuesday, July 17th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-two have given a buy rating to the company. Netflix has an average rating of “Buy” and an average price target of $355.45.

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

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 16th. The Internet television network reported $0.85 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the company earned $0.15 EPS. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, research analysts forecast that Netflix, Inc. will post 2.67 earnings per share for the current fiscal year.

In other Netflix news, insider Theodore A. Sarandos sold 111,391 shares of the firm’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $360.00, for a total transaction of $40,100,760.00. Following the transaction, the insider now owns 16,065 shares of the company’s stock, valued at approximately $5,783,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Reed Hastings sold 99,883 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $368.25, for a total transaction of $36,781,914.75. Following the transaction, the chief executive officer now directly owns 99,883 shares in the company, valued at approximately $36,781,914.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 420,428 shares of company stock worth $149,631,503. Corporate insiders own 4.29% of the company’s stock.

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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