K.J. Harrison & Partners Inc Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

K.J. Harrison & Partners Inc raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 68.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,440 shares of the Internet television network’s stock after acquiring an additional 1,400 shares during the period. K.J. Harrison & Partners Inc’s holdings in Netflix were worth $3,050,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NFLX. State Street Corp grew its position in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after acquiring an additional 381,590 shares during the period. Jennison Associates LLC boosted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Netflix during the 3rd quarter valued at $222,871,000. Finally, AustralianSuper Pty Ltd raised its holdings in Netflix by 12,243.4% in the 3rd quarter. AustralianSuper Pty Ltd now owns 290,071 shares of the Internet television network’s stock worth $205,739,000 after purchasing an additional 287,721 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX opened at $990.06 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The stock has a market capitalization of $423.51 billion, a price-to-earnings ratio of 49.93, a PEG ratio of 2.12 and a beta of 1.27. The business’s fifty day moving average price is $945.07 and its 200-day moving average price is $827.46.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for 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%. Netflix’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.11 earnings per share. On average, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Argus lifted their price objective on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group increased their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. UBS Group raised their target price on Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Arete Research raised Netflix to a “hold” rating in a research note on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling

In other news, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is owned by 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.