Chesley Taft & Associates LLC Has $2.83 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Chesley Taft & Associates LLC increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,992 shares of the Internet television network’s stock after buying an additional 423 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Netflix were worth $2,831,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NFLX. Wellington Management Group LLP boosted its stake in shares of Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC bought a new position in Netflix in the 1st quarter valued at approximately $1,450,476,000. Jennison Associates LLC boosted its position in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Netflix during the first quarter worth $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in shares of Netflix during the first quarter worth $372,293,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 224,784 shares of company stock worth $150,212,870 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NFLX. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Netflix in a report on Friday, July 19th. Pivotal Research lifted their price target on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Argus upped their price objective on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Redburn Atlantic raised their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $691.76.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $701.92 on Tuesday. The firm has a market capitalization of $302.53 billion, a P/E ratio of 48.71, a P/E/G ratio of 1.44 and a beta of 1.26. The firm’s 50-day moving average price is $676.85 and its 200-day moving average price is $648.20. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $725.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Netflix Company 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.