Resona Asset Management Co. Ltd. Purchases New Shares in Netflix, Inc. (NASDAQ:NFLX)

Resona Asset Management Co. Ltd. acquired a new position in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 123,313 shares of the Internet television network’s stock, valued at approximately $110,197,000. Netflix accounts for approximately 0.7% of Resona Asset Management Co. Ltd.’s holdings, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after acquiring an additional 171,712 shares in the last quarter. Geode Capital Management LLC boosted its stake in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after acquiring an additional 175,596 shares in the last quarter. Norges Bank bought a new position in shares of Netflix during the fourth quarter valued at approximately $5,019,087,000. Alliancebernstein L.P. lifted its holdings in shares of Netflix by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock valued at $4,582,568,000 after purchasing an additional 82,564 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Netflix news, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,676 shares of company stock worth $273,515,672 over the last quarter. Insiders own 1.76% of the company’s stock.

Netflix Trading Down 6.7 %

Shares of Netflix stock opened at $855.86 on Friday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $366.10 billion, a P/E ratio of 43.16, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a fifty day moving average of $970.24 and a 200 day moving average of $874.63.

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

Analysts Set New Price Targets

NFLX has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Argus upped their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,023.74.

About Netflix

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.