The Manufacturers Life Insurance Company Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

The Manufacturers Life Insurance Company grew its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,138 shares of the Internet television network's stock after purchasing an additional 4,386 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Netflix worth $285,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its holdings in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Netflix in the fourth quarter worth about $32,000. Newton One Investments LLC purchased a new stake in shares of Netflix in the fourth quarter worth about $34,000. Pineridge Advisors LLC boosted its stake in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after buying an additional 40 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock valued at $42,000 after buying an additional 16 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 2.2 %

NASDAQ NFLX traded up $24.86 on Friday, hitting $1,158.33. The stock had a trading volume of 2,639,656 shares, compared to its average volume of 4,875,118. Netflix, Inc. has a 52-week low of $565.16 and a 52-week high of $1,159.00. The business's fifty day moving average price is $964.76 and its 200 day moving average price is $914.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $492.95 billion, a price-to-earnings ratio of 58.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

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, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the previous year, the business earned $8.28 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NFLX. Loop Capital reiterated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Arete Research upgraded shares of Netflix to a "hold" rating in a research report on Thursday, January 23rd. Pivotal Research boosted their target price on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Cfra Research raised shares of Netflix to a "strong-buy" rating in a report on Monday. Finally, FBN Securities initiated coverage on Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,072.12.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the company'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 value of $35,830,554.55. Following the completion of the sale, the director now directly owns 79,040 shares in the company, valued at $87,099,708.80. This represents a 29.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeffrey William Karbowski sold 640 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $1,097.04, for a total transaction of $702,105.60. The disclosure for this sale can be found here. Insiders sold 153,181 shares of company stock valued at $153,232,778 over the last 90 days. Corporate insiders own 1.76% of the company's stock.

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.