Pilgrim Partners Asia Pte Ltd Buys New Shares in Netflix, Inc. (NASDAQ:NFLX)

Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,570 shares of the Internet television network’s stock, valued at approximately $1,399,000. Netflix makes up 1.2% of Pilgrim Partners Asia Pte Ltd’s holdings, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Netflix during the 4th quarter valued at about $5,019,087,000. Proficio Capital Partners LLC boosted its position in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after buying an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA grew its position in Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after buying an additional 743,724 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of 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 valued at $340,420,000 after buying an additional 381,590 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on NFLX shares. Needham & Company LLC upped their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Argus raised their target price on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and raised their target price for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. KeyCorp lifted their price target on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Arete Research raised Netflix to a “hold” rating in a research report on Thursday, January 23rd. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,023.74.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 41,121 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $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. Insiders sold a total of 280,676 shares of company stock worth $273,515,672 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Down 6.7 %

Shares of NFLX opened at $855.86 on Friday. The company has a market capitalization of $366.10 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The business’s 50 day moving average is $970.24 and its 200 day moving average is $874.63. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. 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 earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.11 EPS. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.