KLP Kapitalforvaltning AS Takes $154.38 Million Position in Netflix, Inc. (NASDAQ:NFLX)

KLP Kapitalforvaltning AS acquired a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 173,200 shares of the Internet television network's stock, valued at approximately $154,377,000. Netflix comprises about 0.7% of KLP Kapitalforvaltning AS's investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors also recently bought and sold shares of NFLX. Swedbank AB raised its stake in Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network's stock worth $329,958,000 after acquiring an additional 8,024 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock valued at $1,200,485,000 after purchasing an additional 198,148 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Netflix by 8.5% in the third quarter. First Horizon Advisors Inc. now owns 1,987 shares of the Internet television network's stock worth $1,409,000 after purchasing an additional 155 shares during the last quarter. Moran Wealth Management LLC lifted its holdings in shares of Netflix by 3.5% during the third quarter. Moran Wealth Management LLC now owns 2,666 shares of the Internet television network's stock worth $1,891,000 after purchasing an additional 90 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its position in Netflix by 2.0% in the third quarter. Citizens Financial Group Inc. RI now owns 5,872 shares of the Internet television network's stock valued at $4,165,000 after buying an additional 114 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several brokerages have commented on NFLX. Rosenblatt Securities upgraded shares of Netflix from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Needham & Company LLC boosted their target price on shares of Netflix from $800.00 to $1,150.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Oppenheimer increased their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. KeyCorp lifted their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Canaccord Genuity Group upgraded Netflix from a "hold" rating to a "buy" rating and upped their target price for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,016.78.

Insider Buying and Selling at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 30,485 shares of the 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 directly owns 394 shares in the company, valued at $386,876.48. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 in the last quarter. Corporate insiders own 1.76% of the company's stock.

Netflix Stock Up 2.6 %

NFLX traded up $25.29 during trading hours on Tuesday, hitting $997.28. 3,775,858 shares of the company's stock were exchanged, compared to its average volume of 3,487,108. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The firm has a market cap of $426.59 billion, a P/E ratio of 50.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The firm has a 50 day moving average of $965.09 and a 200 day moving average of $863.43.

Netflix (NASDAQ:NFLX - Get Free Report) last posted 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. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company's revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.11 earnings per share. Analysts predict that Netflix, Inc. will post 24.58 EPS 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.