Daiwa Securities Group Inc. Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Daiwa Securities Group Inc. grew its position in Netflix, Inc. (NASDAQ:NFLX) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,200 shares of the Internet television network’s stock after purchasing an additional 3,430 shares during the period. Daiwa Securities Group Inc.’s holdings in Netflix were worth $73,617,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NFLX. Fairfield Bush & CO. lifted its holdings in shares of Netflix by 26.5% in the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock worth $916,000 after acquiring an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after buying an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after buying an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Netflix by 6.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after purchasing an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after purchasing an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.6 %

Netflix stock traded down $3.83 during trading on Wednesday, hitting $613.69. The company’s stock had a trading volume of 3,298,417 shares, compared to its average volume of 4,241,472. The stock has a market capitalization of $265.58 billion, a price-to-earnings ratio of 51.02, a P/E/G ratio of 1.64 and a beta of 1.22. The stock’s fifty day moving average is $603.65 and its 200 day moving average is $510.44. Netflix, Inc. has a 1-year low of $315.62 and a 1-year high of $639.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). The business had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 17.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Piper Sandler increased their price objective on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, April 12th. KeyCorp increased their price objective on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Benchmark increased their target price on Netflix from $350.00 to $425.00 and gave the company a “sell” rating in a research report on Friday, January 19th. Finally, Barclays raised their price target on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $605.76.

Insider Buying and Selling at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. Company insiders own 2.45% 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.