Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,134 shares of the Internet television network's stock after acquiring an additional 625 shares during the period. Netflix comprises 0.5% of Sumitomo Life Insurance Co.'s investment portfolio, making the stock its 23rd biggest holding. Sumitomo Life Insurance Co.'s holdings in Netflix were worth $13,180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC purchased a new stake in Netflix during the 4th quarter worth about $32,000. Copia Wealth Management purchased a new position in Netflix during the 4th quarter valued at about $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix during the first quarter valued at about $42,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of Netflix stock traded up $23.86 on Thursday, hitting $1,274.17. The stock had a trading volume of 6,348,073 shares, compared to its average volume of 3,774,549. The stock has a market cap of $542.25 billion, a price-to-earnings ratio of 60.22, a P/E/G ratio of 2.26 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The company's 50 day moving average price is $1,231.20 and its 200 day moving average price is $1,058.57.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.05 by $0.14. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period last year, the firm earned $4.88 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BMO Capital Markets reiterated an "outperform" rating and issued a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research note on Tuesday. UBS Group lifted their price objective on Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Pivotal Research restated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Macquarie lifted their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Finally, Piper Sandler set a $1,400.00 price objective on shares of Netflix and gave the stock an "overweight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,233.15.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value 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 $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company's stock.

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.