Empire Life Investments Inc. Invests $1.90 Million in Netflix, Inc. (NASDAQ:NFLX)

Empire Life Investments Inc. acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, Holdings Channel reports. The fund acquired 2,131 shares of the Internet television network’s stock, valued at approximately $1,899,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Spinnaker Trust bought a new position in Netflix during the 4th quarter valued at about $223,000. Constant Guidance Financial LLC lifted its holdings in Netflix by 78.9% during the 4th quarter. Constant Guidance Financial LLC now owns 5,633 shares of the Internet television network’s stock valued at $5,021,000 after purchasing an additional 2,485 shares during the last quarter. Rhumbline Advisers lifted its holdings in Netflix by 1.7% during the 4th quarter. Rhumbline Advisers now owns 804,795 shares of the Internet television network’s stock valued at $717,330,000 after purchasing an additional 13,070 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in Netflix by 60.0% during the 4th quarter. Center for Financial Planning Inc. now owns 640 shares of the Internet television network’s stock valued at $570,000 after purchasing an additional 240 shares during the last quarter. Finally, PUREfi Wealth LLC bought a new position in Netflix during the 4th quarter valued at about $299,000. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

NFLX has been the subject of several analyst reports. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and lifted their price target for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. UBS Group raised their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Bank of America raised their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 303,809 shares of company stock valued at $290,374,484 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX opened at $1,058.60 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The firm’s 50 day moving average price is $926.92 and its two-hundred day moving average price is $801.02. The firm has a market cap of $452.83 billion, a P/E ratio of 53.38, a PEG ratio of 2.11 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.11 earnings per share. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS 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.