Netflix, Inc. (NASDAQ:NFLX) Stock Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 26.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280,489 shares of the Internet television network's stock after buying an additional 59,251 shares during the period. Netflix comprises approximately 0.6% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its 23rd biggest holding. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Netflix worth $244,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. GAMMA Investing LLC increased its stake in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the period. Norges Bank bought a new stake in shares of Netflix in the 4th quarter worth about $5,019,087,000. Arrowstreet Capital Limited Partnership increased its position in shares of Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of 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 worth $870,752,000 after purchasing an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after purchasing an additional 570,674 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Netflix stock traded up $16.45 during midday trading on Friday, reaching $1,323.12. 4,066,251 shares of the stock traded hands, compared to its average volume of 3,747,286. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,331.35. The firm has a market cap of $563.08 billion, a price-to-earnings ratio of 62.53, a PEG ratio of 2.56 and a beta of 1.59. The firm has a fifty day moving average price of $1,183.25 and a two-hundred day moving average price of $1,024.18. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the business earned $8.28 earnings per share. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research analyst reports. Barclays boosted their target price on shares of Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. Citigroup reissued a "neutral" rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Benchmark reissued a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Robert W. Baird boosted their target price on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Piper Sandler set a $1,150.00 target price on shares of Netflix and gave the stock an "overweight" rating in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,172.73.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 185,280 shares of company stock valued at $210,599,866 over the last ninety days. Insiders own 1.37% of the company's stock.

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.