OFI Invest Asset Management Buys Shares of 37,887 Netflix, Inc. (NASDAQ:NFLX)

OFI Invest Asset Management bought a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,887 shares of the Internet television network's stock, valued at approximately $32,612,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position 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 valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC lifted its position in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network's stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC lifted its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. Wellington Management Group LLP lifted its position in Netflix by 0.5% during the third 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 purchasing an additional 23,702 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Netflix by 1.0% during 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 purchasing an additional 45,507 shares during the period. Institutional investors own 80.93% of the company's stock.

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Insider Transactions at Netflix

In other news, Director Ann Mather sold 2,682 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 30,485 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the sale, the chairman now owns 394 shares of the company's stock, valued at $386,876.48. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NFLX has been the topic of a number of research analyst reports. Piper Sandler restated an "overweight" rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Phillip Securities downgraded shares of Netflix from a "hold" rating to a "moderate sell" rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein raised shares of Netflix from a "market perform" rating to an "outperform" rating and upped their target price for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Finally, Wedbush reaffirmed an "outperform" rating and set a $1,150.00 target price (up 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-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,021.70.

Netflix Price Performance

NFLX stock traded down $15.25 during trading on Friday, hitting $891.11. 7,733,383 shares of the company's stock traded hands, compared to its average volume of 3,352,894. Netflix, Inc. has a 52 week low of $542.01 and a 52 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 business has a fifty day simple moving average of $950.26 and a 200 day simple moving average of $842.54. The stock has a market capitalization of $381.18 billion, a price-to-earnings ratio of 44.94, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business earned $2.11 earnings per share. Netflix's quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts expect 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.