K.J. Harrison & Partners Inc Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

K.J. Harrison & Partners Inc acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,025 shares of the Internet television network’s stock, valued at approximately $499,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Spirit of America Management Corp NY purchased a new stake in Netflix during the 3rd quarter valued at $113,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Netflix by 8.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,180 shares of the Internet television network’s stock worth $446,000 after purchasing an additional 91 shares during the period. Zullo Investment Group Inc. raised its holdings in Netflix by 1.5% in the 3rd quarter. Zullo Investment Group Inc. now owns 2,706 shares of the Internet television network’s stock worth $1,022,000 after purchasing an additional 40 shares during the period. MCF Advisors LLC raised its holdings in Netflix by 10.2% in the 3rd quarter. MCF Advisors LLC now owns 323 shares of the Internet television network’s stock worth $122,000 after purchasing an additional 30 shares during the period. Finally, Slow Capital Inc. raised its holdings in Netflix by 0.5% in the 3rd quarter. Slow Capital Inc. now owns 30,514 shares of the Internet television network’s stock worth $11,522,000 after purchasing an additional 164 shares during the period. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent research reports. Bank of America raised their target price on Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, April 19th. UBS Group raised their price target on Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Piper Sandler raised their price target on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Evercore ISI raised their price target on Netflix from $640.00 to $650.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, The Goldman Sachs Group raised their price target on Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.58.

Insider Activity

In other news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,573 shares of company stock valued at $89,548,241. Corporate insiders own 2.45% of the company’s stock.

Netflix Trading Down 0.6 %

Shares of NASDAQ:NFLX traded down $3.57 during trading hours on Friday, hitting $561.23. 4,332,593 shares of the company’s stock traded hands, compared to its average volume of 4,190,527. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $639.00. The business has a fifty day moving average price of $604.54 and a 200-day moving average price of $519.46. The firm has a market capitalization of $241.83 billion, a P/E ratio of 38.95, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. Equities analysts expect that Netflix, Inc. will post 18.13 earnings per share for the current year.

Netflix 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.