Pamalican Asset Management Ltd Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Pamalican Asset Management Ltd purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,800 shares of the Internet television network's stock, valued at approximately $6,952,000. Netflix makes up 3.1% of Pamalican Asset Management Ltd's holdings, making the stock its 10th largest holding.

A number of other institutional investors also recently made changes to their positions in NFLX. Norges Bank acquired a new stake in shares of Netflix during the fourth quarter worth $5,019,087,000. Proficio Capital Partners LLC lifted its position in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after buying an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after acquiring an additional 743,724 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Bank of America upped their price objective on Netflix from $1,000.00 to $1,175.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a "hold" rating to a "buy" rating and lifted their target price for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. FBN Securities started coverage on Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price target for the company. Finally, Argus lifted their price objective on Netflix from $840.00 to $1,040.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,023.74.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded down $61.19 during trading on Friday, reaching $855.86. 6,781,959 shares of the company's stock traded hands, compared to its average volume of 3,625,380. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50 day moving average of $970.24 and a 200-day moving average of $875.80. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The stock has a market capitalization of $366.10 billion, a P/E ratio of 43.16, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly 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. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business's revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $2.11 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. The trade was a 41.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,676 shares of company stock worth $273,515,672. 1.76% of the stock is owned by insiders.

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.