Korea Investment CORP Has $351.74 Million Holdings in Netflix, Inc. $NFLX

Key Points

• Korea Investment CORP has increased its stake in Netflix, Inc. by 0.7%, now holding approximately $351.74 million worth of shares, making it the company's 17th largest investor.
• Institutional investors own about 80.93% of Netflix, indicating strong institutional confidence in the company.
• Netflix reported $7.19 earnings per share for the latest quarter, surpassing analysts' expectations and showcasing a 15.9% year-over-year revenue growth to $11.08 billion.

Korea Investment CORP raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,193 shares of the Internet television network's stock after acquiring an additional 2,695 shares during the quarter. Netflix comprises approximately 0.9% of Korea Investment CORP's investment portfolio, making the stock its 17th biggest holding. Korea Investment CORP owned approximately 0.09% of Netflix worth $351,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the 4th quarter worth $27,000. Transce3nd LLC acquired a new position in Netflix during the 4th quarter worth $32,000. Copia Wealth Management acquired a new position in Netflix during the 4th quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Netflix during the 1st quarter worth $42,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NFLX opened at $1,238.95 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a twelve month low of $660.80 and a twelve month high of $1,341.15. The firm's 50 day moving average price is $1,231.23 and its two-hundred day moving average price is $1,103.91. The firm has a market cap of $526.46 billion, a P/E ratio of 52.79, a PEG ratio of 2.09 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the firm posted $4.88 earnings per share. The business's revenue was up 15.9% on a year-over-year basis. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director directly owned 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reed Hastings sold 26,933 shares of Netflix stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the sale, the director owned 394 shares in the company, valued at $477,394.04. This trade represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,307 shares of company stock worth $179,443,809. Corporate insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. Piper Sandler upped their price objective on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Robert W. Baird lifted their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Wedbush reiterated an "outperform" rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Finally, Barclays reiterated a "sell" rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,297.66.

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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.