Netflix, Inc. (NASDAQ:NFLX) Position Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,638 shares of the Internet television network's stock after purchasing an additional 3,137 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Netflix were worth $50,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of NFLX. Brighton Jones LLC raised its stake in shares of Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Netflix by 16.4% in the 4th 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 during the period. Maia Wealth LLC grew its position in shares of Netflix by 3.2% in the 4th quarter. Maia Wealth LLC now owns 681 shares of the Internet television network's stock worth $662,000 after buying an additional 21 shares during the last quarter. Modera Wealth Management LLC increased its stake in shares of Netflix by 17.7% during the fourth quarter. Modera Wealth Management LLC now owns 2,070 shares of the Internet television network's stock valued at $1,845,000 after buying an additional 312 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Netflix by 45.4% during the fourth quarter. Jones Financial Companies Lllp now owns 23,044 shares of the Internet television network's stock valued at $20,540,000 after buying an additional 7,190 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on NFLX. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. FBN Securities began coverage on Netflix in a report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 target price on the stock. Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Finally, KeyCorp raised their target price on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,172.73.

Insider Activity

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director directly owned 7,969 shares of the company's stock, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory K. Peters sold 2,027 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the completion of the sale, the chief executive officer directly 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 sold a total of 157,319 shares of company stock valued at $184,842,109 over the last three months. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Down 3.4%

NFLX traded down $45.53 during trading hours on Tuesday, reaching $1,293.60. 4,989,809 shares of the stock traded hands, compared to its average volume of 3,750,399. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,342.50. The company has a market cap of $550.52 billion, a price-to-earnings ratio of 61.13, a PEG ratio of 2.56 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The firm's fifty day simple moving average is $1,190.27 and its two-hundred day simple moving average is $1,027.81.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results 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 company had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the prior year, the business posted $8.28 EPS. As a group, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.