Factory Mutual Insurance Co. lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 32.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 152,848 shares of the Internet television network’s stock after purchasing an additional 37,600 shares during the period. Netflix comprises about 1.0% of Factory Mutual Insurance Co.’s holdings, making the stock its 27th largest position. Factory Mutual Insurance Co.’s holdings in Netflix were worth $67,328,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Netflix by 3.4% during the first quarter. BlackRock Inc. now owns 28,671,174 shares of the Internet television network’s stock worth $9,905,317,000 after buying an additional 938,849 shares during the last quarter. FMR LLC boosted its holdings in Netflix by 0.4% in the 1st quarter. FMR LLC now owns 23,564,250 shares of the Internet television network’s stock valued at $8,140,977,000 after purchasing an additional 92,075 shares in the last quarter. State Street Corp boosted its holdings in Netflix by 0.4% in the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after purchasing an additional 62,507 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Netflix by 305,647.4% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,168,128 shares of the Internet television network’s stock valued at $6,681,409,000 after purchasing an additional 15,163,167 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Netflix by 16.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,244,508 shares of the Internet television network’s stock valued at $3,905,540,000 after purchasing an additional 1,839,366 shares in the last quarter. Hedge funds and other institutional investors own 79.95% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on NFLX shares. Guggenheim reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Netflix in a report on Thursday, July 20th. Pivotal Research boosted their price target on Netflix from $535.00 to $600.00 in a report on Thursday, July 20th. Rosenblatt Securities boosted their price target on Netflix from $358.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. Robert W. Baird raised shares of Netflix from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $340.00 to $500.00 in a research note on Monday, July 24th. Finally, Citigroup upped their price target on shares of Netflix from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $432.00.
Check Out Our Latest Analysis on Netflix
Insider Activity at Netflix
In related news, Director Jay C. Hoag sold 4,954 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $422.24, for a total transaction of $2,091,776.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Netflix news, Chairman Reed Hastings sold 17,717 shares of Netflix stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $380.20, for a total transaction of $6,736,003.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jay C. Hoag sold 4,954 shares of Netflix stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $422.24, for a total transaction of $2,091,776.96. The disclosure for this sale can be found here. Insiders have sold 118,157 shares of company stock worth $50,373,841 over the last quarter. 2.45% of the stock is currently owned by company insiders.
Netflix Stock Performance
Shares of NASDAQ NFLX opened at $384.02 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $412.27 and its two-hundred day moving average price is $393.26. Netflix, Inc. has a 52-week low of $211.73 and a 52-week high of $485.00. The stock has a market capitalization of $170.18 billion, a P/E ratio of 41.10, a P/E/G ratio of 1.26 and a beta of 1.31.
Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.44. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.20 earnings per share. As a group, sell-side analysts forecast that Netflix, Inc. will post 11.91 earnings per share for the current year.
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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