Sumitomo Life Insurance Co. Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Sumitomo Life Insurance Co. raised its position in Netflix, Inc. (NASDAQ:NFLX) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,509 shares of the Internet television network’s stock after acquiring an additional 223 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Netflix were worth $12,041,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisory Resource Group raised its stake in shares of Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after purchasing an additional 12 shares during the last quarter. Insight Wealth Strategies LLC boosted its holdings in shares of Netflix by 1.9% in the 4th quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after acquiring an additional 12 shares during the last quarter. Sunflower Bank N.A. increased its stake in shares of Netflix by 2.1% in the fourth quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock worth $513,000 after acquiring an additional 12 shares during the period. D.B. Root & Company LLC raised its holdings in shares of Netflix by 4.1% during the fourth quarter. D.B. Root & Company LLC now owns 331 shares of the Internet television network’s stock worth $295,000 after purchasing an additional 13 shares during the last quarter. Finally, New World Advisors LLC lifted its position in Netflix by 2.0% during the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,117 shares of company stock valued at $123,913,691. 1.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NFLX shares. The Goldman Sachs Group increased their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. KeyCorp raised their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. TD Cowen upped their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Down 0.0 %

NFLX opened at $971.83 on Wednesday. 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 stock has a market capitalization of $415.42 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 1.53 and a beta of 1.27. The business has a fifty day moving average price of $897.63 and a 200 day moving average price of $770.43. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $999.00.

Netflix (NASDAQ:NFLX) last posted 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 company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $2.11 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

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.