iA Global Asset Management Inc. Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

iA Global Asset Management Inc. increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 35.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 68,810 shares of the Internet television network’s stock after purchasing an additional 18,053 shares during the period. Netflix makes up approximately 1.1% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 19th largest position. iA Global Asset Management Inc.’s holdings in Netflix were worth $61,332,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the 3rd quarter valued at approximately $25,000. Newton One Investments LLC acquired a new position in shares of Netflix in the fourth quarter worth $34,000. Pineridge Advisors LLC increased its position in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC raised its stake in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after acquiring an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the sale, the chairman now owns 114 shares in the company, valued at $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is owned by insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $959.49 on Thursday. The business’s fifty day moving average price is $955.11 and its two-hundred day moving average price is $854.07. The stock has a market cap of $410.43 billion, a PE ratio of 48.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.11 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on NFLX shares. Wedbush reissued an “outperform” rating and set a $1,150.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. The Goldman Sachs Group boosted their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $1,100.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Bank of America boosted their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,016.78.

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.