Resona Asset Management Co. Ltd. Buys Shares of 123,313 Netflix, Inc. (NASDAQ:NFLX)

Resona Asset Management Co. Ltd. acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 123,313 shares of the Internet television network’s stock, valued at approximately $110,197,000. Netflix comprises about 0.7% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 23rd biggest position.

Several other large investors also recently modified their holdings of NFLX. Pathway Financial Advisers LLC grew its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the period. Newton One Investments LLC acquired a new stake in Netflix during the fourth quarter worth approximately $34,000. Pineridge Advisors LLC increased its holdings in Netflix by 4,000.0% in 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 in the last quarter. Princeton Global Asset Management LLC lifted its stake 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 buying an additional 16 shares during the period. Finally, Decker Retirement Planning Inc. bought a new position in shares of Netflix during the 4th quarter worth approximately $43,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on NFLX shares. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Loop Capital reissued a “hold” rating on shares of Netflix in a research report on Monday, March 24th. Guggenheim reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of Netflix in a research report on Thursday. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and increased their price target for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,023.74.

Netflix Stock Performance

Shares of NFLX stock opened at $855.86 on Friday. 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 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. The firm’s 50 day moving average is $970.24 and its 200 day moving average is $874.63.

Netflix (NASDAQ:NFLX) last issued its 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. 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 firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.11 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In other Netflix news, Director Ann Mather sold 2,682 shares of the firm’s 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 document filed with the SEC, which is available at the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,676 shares of company stock worth $273,515,672. 1.76% of the stock is currently owned by insiders.

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.