Perpetual Ltd Acquires 68,678 Shares of Netflix, Inc. (NASDAQ:NFLX)

Perpetual Ltd raised its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3,406.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,694 shares of the Internet television network's stock after acquiring an additional 68,678 shares during the period. Perpetual Ltd's holdings in Netflix were worth $65,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 purchasing an additional 8,827,662 shares in the last quarter. Norges Bank acquired a new position in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. Proficio Capital Partners LLC boosted its holdings in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock valued at $1,716,662,000 after buying an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after acquiring an additional 743,724 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 2.5%

NFLX stock opened at $1,306.67 on Friday. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,309.59. The business's 50 day simple moving average is $1,176.24 and its 200 day simple moving average is $1,020.75. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $556.08 billion, a PE ratio of 61.75, a PEG ratio of 2.47 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the previous year, the company earned $8.28 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now directly owns 394 shares of the company's stock, valued at approximately $362,933.10. This trade represents a 98.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 620 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,280 shares of company stock worth $210,599,866. Insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

NFLX has been the subject of a number of research analyst reports. Pivotal Research upped their target price on shares of Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. KeyCorp upped their price objective on Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. UBS Group increased their price objective on Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Citigroup restated a "neutral" rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $1,126.00 price target on shares of Netflix in a research report on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,172.73.

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.

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