Orrstown Financial Services Inc. Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Orrstown Financial Services Inc. raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,032 shares of the Internet television network’s stock after buying an additional 28 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Netflix were worth $920,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Netflix by 116,620.0% during the 3rd 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 purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the last quarter. State Street Corp lifted its position in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Jennison Associates LLC boosted its stake in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Netflix in the 3rd quarter worth $222,871,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 617 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock valued at $123,913,691 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

NFLX traded up $0.03 on Wednesday, reaching $971.86. 704,198 shares of the stock were exchanged, compared to its average volume of 4,464,701. The company’s 50-day moving average price is $899.64 and its 200 day moving average price is $772.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a market capitalization of $415.43 billion, a PE ratio of 49.01, a PEG ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $999.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business earned $2.11 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Netflix, Inc. will post 23.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and raised their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Phillip Securities cut Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Macquarie upped their price target on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Oppenheimer raised their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

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.