Netflix, Inc. (NASDAQ:NFLX) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Netflix, acquiring an additional 662 shares, resulting in a total of 3,179 shares valued at approximately $2.96 million.
• Netflix recently reported earnings of $7.19 EPS surpassing estimates, with revenues of $11.08 billion for the quarter, reflecting a year-over-year growth of 15.9%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Netflix, with a price target averaging around $1,297.66, highlighting strong investor interest.

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 26.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,179 shares of the Internet television network's stock after acquiring an additional 662 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Netflix were worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC raised its stake in shares of 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 purchased a new position in shares of Netflix during the 4th quarter worth approximately $27,000. Transce3nd LLC purchased a new position in shares of Netflix during the 4th quarter worth approximately $32,000. Copia Wealth Management purchased a new position in shares of Netflix during the 4th quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its stake in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 0.1%

Shares of NFLX opened at $1,158.60 on Friday. The stock's 50-day moving average is $1,234.32 and its two-hundred day moving average is $1,083.98. The stock has a market cap of $492.32 billion, a PE ratio of 49.37, a P/E/G ratio of 1.95 and a beta of 1.59. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

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

Insider Activity at Netflix

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director owned 7,969 shares in the company, valued at $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,027 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total value of $2,313,840.77. Following the completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,589,639.31. This trade represents a 13.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,830 shares of company stock valued at $153,102,930 over the last 90 days. Corporate insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wedbush reaffirmed an "outperform" rating and issued a $1,500.00 price objective (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. 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. Guggenheim 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. Cfra Research raised Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.

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