OVERSEA CHINESE BANKING Corp Ltd Raises Position in Netflix, Inc. (NASDAQ:NFLX)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6,361.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,642 shares of the Internet television network's stock after purchasing an additional 160,125 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Netflix were worth $151,669,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. raised its holdings in shares of Netflix by 7.2% during the first quarter. SBI Securities Co. Ltd. now owns 10,949 shares of the Internet television network's stock valued at $10,210,000 after purchasing an additional 734 shares during the period. Baer Investment Advisory LLC bought a new stake in Netflix in the 1st quarter valued at about $1,928,000. Elite Wealth Management Inc. raised its stake in Netflix by 12.8% during the 1st quarter. Elite Wealth Management Inc. now owns 1,014 shares of the Internet television network's stock worth $946,000 after buying an additional 115 shares during the period. Apollon Wealth Management LLC boosted its holdings in Netflix by 40.3% in the first quarter. Apollon Wealth Management LLC now owns 23,862 shares of the Internet television network's stock worth $22,252,000 after acquiring an additional 6,860 shares in the last quarter. Finally, Bogart Wealth LLC boosted its holdings in Netflix by 1.5% in the first quarter. Bogart Wealth LLC now owns 15,321 shares of the Internet television network's stock worth $14,287,000 after acquiring an additional 230 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Netflix

In other news, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the transaction, the director owned 394 shares in the company, valued at $446,421.70. This trade represents a 98.56% 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 Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock worth $223,307,201 over the last ninety days. Company insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Macquarie upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Finally, Pivotal Research restated a "buy" rating on shares of Netflix in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,220.58.

Netflix Stock Performance

NASDAQ NFLX traded up $16.84 on Monday, hitting $1,261.95. 2,774,453 shares of the stock traded hands, compared to its average volume of 4,257,667. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The business's fifty day moving average is $1,221.70 and its two-hundred day moving average is $1,050.73. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The firm has a market capitalization of $537.05 billion, a price-to-earnings ratio of 59.64, a PEG ratio of 2.25 and a beta of 1.59.

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

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.