Mitsubishi UFJ Asset Management Co. Ltd. Acquires 85,825 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Netflix, Inc. by 12.0% in the first quarter, acquiring an additional 85,825 shares, bringing their total ownership to approximately 800,431 shares valued at $746.4 million.
• Insider trading activity included CEO Gregory K. Peters selling 2,026 shares for over $2.3 million, resulting in a 13.68% decrease in his ownership of the company stock.
• Analysts have set new price targets for Netflix, with Oppenheimer raising it to $1,425.00 and JPMorgan Chase increasing theirs to $1,300.00, contributing to an overall average target of $1,297.66.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800,431 shares of the Internet television network's stock after buying an additional 85,825 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Netflix worth $746,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. increased its position in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after purchasing an additional 509,255 shares during the period. GAMMA Investing LLC increased its position in shares of Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Northern Trust Corp increased its position in shares of Netflix by 14.3% in the fourth 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 period. Goldman Sachs Group Inc. increased its position in shares of Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after purchasing an additional 1,236,251 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Netflix by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,811,760 shares of the Internet television network's stock worth $2,622,051,000 after purchasing an additional 143,368 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler raised their price objective on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. UBS Group reaffirmed a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Trading Up 2.6%

Shares of NFLX traded up $31.27 during mid-day trading on Friday, reaching $1,211.64. 3,811,512 shares of the company were exchanged, compared to its average volume of 3,961,090. Netflix, Inc. has a 52 week low of $622.99 and a 52 week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $514.86 billion, a PE ratio of 51.63, a PEG ratio of 1.99 and a beta of 1.59. The business has a 50 day simple moving average of $1,232.25 and a two-hundred day simple moving average of $1,093.48.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the company earned $4.88 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. On average, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 26,933 shares of Netflix stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the sale, the director directly owned 394 shares in the company, valued at approximately $477,394.04. The trade was a 98.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director owned 63,040 shares of the company's stock, valued at approximately $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,226 shares of company stock valued at $183,849,784 over the last three months. 1.37% of the stock is owned by insiders.

Netflix Company 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.