Resona Asset Management Co. Ltd. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Resona Asset Management Co. Ltd. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 123,313 shares of the Internet television network's stock, valued at approximately $110,197,000. Netflix makes up approximately 0.7% of Resona Asset Management Co. Ltd.'s investment portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC lifted its stake in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Newton One Investments LLC bought a new stake in shares of Netflix in the fourth quarter worth $34,000. Pineridge Advisors LLC boosted its holdings in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares during the last quarter. Princeton Global Asset Management LLC grew its position in Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Netflix in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NFLX. Morgan Stanley increased their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Macquarie increased their price target on Netflix from $965.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their price target on Netflix from $850.00 to $960.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Piper Sandler reissued an "overweight" rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,017.31.

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Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares in the company, valued at $362,933.10. The trade was a 98.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares of the company's stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock worth $267,919,297 in the last 90 days. Insiders own 1.76% of the company's stock.

Netflix Trading Down 0.8 %

Shares of NASDAQ:NFLX traded down $6.63 during mid-day trading on Wednesday, reaching $863.77. 1,839,113 shares of the company's stock were exchanged, compared to its average volume of 3,644,560. The firm has a market capitalization of $369.48 billion, a price-to-earnings ratio of 43.47, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The business's fifty day moving average price is $963.96 and its 200-day moving average price is $879.39. 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 (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during 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 company's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.11 EPS. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix Company Profile

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.