OVERSEA CHINESE BANKING Corp Ltd Increases Position in Netflix, Inc. (NASDAQ:NFLX)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 56.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,517 shares of the Internet television network’s stock after acquiring an additional 906 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Netflix were worth $2,243,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC grew its stake in Netflix by 82.4% during 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. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter valued at about $25,000. Newton One Investments LLC acquired a new position in Netflix in the 4th quarter valued at about $34,000. Pineridge Advisors LLC boosted its holdings in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares during the last quarter. Finally, Princeton Global Asset Management LLC boosted its holdings in Netflix by 51.6% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $959.49 on Thursday. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The firm’s fifty day simple moving average is $955.11 and its 200-day simple moving average is $854.07. The firm has a market capitalization of $410.43 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 2.12 and a beta of 1.38. 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 (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping 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 firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the business earned $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NFLX shares. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and boosted their target price for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. 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. The Goldman Sachs Group boosted their target price on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,016.78.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock worth $279,142,041 in the last ninety days. 1.76% of the stock is owned by corporate 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.