Sumitomo Life Insurance Co. Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Sumitomo Life Insurance Co. increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 9.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,286 shares of the Internet television network’s stock after purchasing an additional 1,172 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Netflix were worth $9,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. GQG Partners LLC purchased a new position in Netflix during the first quarter valued at approximately $1,450,476,000. Jennison Associates LLC lifted its stake in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Netflix in the 1st quarter worth $436,514,000. Jericho Capital Asset Management L.P. bought a new stake in Netflix during the first quarter valued at about $372,293,000. Finally, Swedbank AB purchased a new position in shares of Netflix in the first quarter valued at about $216,538,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares in the company, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is currently owned by corporate insiders.

Netflix Trading Down 1.0 %

Netflix stock traded down $6.80 during trading hours on Wednesday, hitting $699.18. The company had a trading volume of 351,085 shares, compared to its average volume of 3,625,448. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $301.35 billion, a P/E ratio of 48.99, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a 50-day moving average price of $690.82 and a two-hundred day moving average price of $653.04. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $736.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.29 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on NFLX. Loop Capital boosted their price target on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. restated an “overweight” rating and set a $750.00 target price on shares of Netflix in a research report on Tuesday, October 8th. Citigroup lifted their price target on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. KeyCorp boosted their price target on shares of Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, China Renaissance began coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $704.26.

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.