Resona Asset Management Co. Ltd. Buys 9,182 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Netflix, Inc. by 7.4% in the first quarter, owning 132,495 shares worth approximately $123.58 million.
• Netflix currently has a market cap of $517.70 billion, with earnings per share of $7.19 reported for the last quarter, exceeding analysts' expectations.
• Recent analyst ratings on Netflix include a reaffirmed "buy" rating from Guggenheim with a target price raised to $1,150, while Sanford C. Bernstein raised its price target to $1,390.

Resona Asset Management Co. Ltd. raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,495 shares of the Internet television network's stock after buying an additional 9,182 shares during the quarter. Netflix comprises about 0.7% of Resona Asset Management Co. Ltd.'s holdings, making the stock its 21st largest position. Resona Asset Management Co. Ltd.'s holdings in Netflix were worth $123,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Brighton Jones LLC grew its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares in the last quarter. BIP Wealth LLC grew its position in Netflix by 23.8% during the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after buying an additional 87 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in shares of Netflix by 2.1% in the 4th quarter. Advisors Capital Management LLC now owns 8,779 shares of the Internet television network's stock worth $7,825,000 after purchasing an additional 178 shares in the last quarter. Finally, Granite Investment Partners LLC purchased a new position in shares of Netflix in the 4th quarter worth about $243,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the 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 transaction, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,307 shares of company stock worth $179,443,809 over the last 90 days. 1.37% of the stock is currently owned by insiders.

Netflix Trading Up 2.2%

NFLX traded up $26.12 during midday trading on Thursday, reaching $1,230.56. 3,900,173 shares of the company's stock traded hands, compared to its average volume of 4,191,276. Netflix, Inc. has a 52 week low of $659.80 and a 52 week high of $1,341.15. The stock has a market capitalization of $522.90 billion, a price-to-earnings ratio of 52.43, a P/E/G ratio of 2.06 and a beta of 1.59. The firm has a fifty day moving average of $1,231.68 and a two-hundred day moving average of $1,098.52. 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 announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company earned $4.88 EPS. The business's revenue was up 15.9% compared to the same quarter last year. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research reports. Wedbush reiterated an "outperform" rating and issued a $1,500.00 price objective (up from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Cfra Research upgraded Netflix to a "strong-buy" rating in a report on Monday, April 28th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,297.66.

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.