OFI Invest Asset Management Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

OFI Invest Asset Management acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 37,887 shares of the Internet television network’s stock, valued at approximately $32,612,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its stake in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC raised its holdings in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. Wellington Management Group LLP boosted its stake in 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 valued at $3,473,571,000 after buying an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Netflix by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after acquiring an additional 45,507 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NASDAQ NFLX opened at $891.11 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 52-week low of $542.01 and a 52-week high of $1,064.50. The business has a 50 day simple moving average of $950.26 and a 200 day simple moving average of $841.52. The stock has a market cap of $381.18 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business 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 firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $2.11 earnings per share. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NFLX shares. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Needham & Company LLC increased their target price on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Guggenheim raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Ten equities research 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’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Activity

In related news, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20. Following the completion of the transaction, the chairman now owns 394 shares of the company’s stock, valued at approximately $386,876.48. This trade represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock worth $279,142,041 over the last three months. Corporate insiders own 1.76% of the company’s stock.

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.