Dupont Capital Management Corp Buys New Shares in Netflix, Inc. $NFLX

Key Points

• Dupont Capital Management Corp acquired a new stake in Netflix, Inc. by purchasing 14,049 shares valued at approximately $18.8 million, making it the firm's 12th largest position.
• Multiple hedge funds increased their stakes in Netflix during the second quarter, with 80.93% of the company's stock owned by institutional investors.
• Netflix's stock rating varies, with analysts providing a consensus average rating of "Moderate Buy" and a price target of $1,339.81, while some analysts have issued strong sell warnings.

Dupont Capital Management Corp bought a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,049 shares of the Internet television network's stock, valued at approximately $18,813,000. Netflix makes up 2.0% of Dupont Capital Management Corp's holdings, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Optima Capital LLC grew its stake in shares of Netflix by 3.5% in the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock valued at $320,000 after buying an additional 8 shares in the last quarter. Unified Investment Management grew its stake in shares of Netflix by 1.7% in the second quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock valued at $635,000 after buying an additional 8 shares in the last quarter. Plancorp LLC boosted its position in Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock worth $1,711,000 after purchasing an additional 8 shares during the period. Five Oceans Advisors boosted its position in Netflix by 1.1% during the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network's stock worth $1,006,000 after purchasing an additional 8 shares during the period. Finally, Old Port Advisors boosted its position in Netflix by 1.3% during the second quarter. Old Port Advisors now owns 624 shares of the Internet television network's stock worth $836,000 after purchasing an additional 8 shares during the period. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Phillip Securities cut shares of Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. The Goldman Sachs Group reduced their price objective on shares of Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating for the company in a research report on Tuesday, September 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 price objective on shares of Netflix in a research report on Wednesday, September 10th. Cowen reaffirmed a "buy" rating on shares of Netflix in a research report on Tuesday, October 7th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,339.81.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reed Hastings sold 42,176 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $461,736.48. This trade represents a 99.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is currently owned by insiders.

Netflix Stock Up 3.3%

NFLX opened at $1,238.56 on Tuesday. Netflix, Inc. has a fifty-two week low of $744.26 and a fifty-two week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $526.30 billion, a P/E ratio of 52.77, a P/E/G ratio of 2.02 and a beta of 1.59. The stock has a fifty day moving average of $1,213.87 and a 200-day moving average of $1,182.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.