Empire Life Investments Inc. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Empire Life Investments Inc. purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,131 shares of the Internet television network’s stock, valued at approximately $1,899,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix during the 3rd quarter worth about $25,000. Pathway Financial Advisers LLC raised its holdings in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC bought a new stake in shares of Netflix in the 4th quarter worth approximately $34,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix in the 3rd quarter worth approximately $37,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of research reports. Guggenheim boosted their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and boosted their price target for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. TD Cowen boosted their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wedbush restated an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Needham & Company LLC boosted their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Buying and Selling at Netflix

In other Netflix news, Director Ann Mather sold 2,682 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,809 shares of company stock valued at $290,374,484 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,058.60 on Friday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm’s fifty day simple moving average is $926.92 and its 200 day simple moving average is $801.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $452.83 billion, a PE ratio of 53.38, a PEG ratio of 2.11 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business 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 posted $2.11 EPS. Netflix’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix 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.