KLP Kapitalforvaltning AS Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

KLP Kapitalforvaltning AS acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 173,200 shares of the Internet television network’s stock, valued at approximately $154,377,000. Netflix comprises about 0.7% of KLP Kapitalforvaltning AS’s portfolio, making the stock its 18th largest position.

A number of other large investors also recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the third quarter valued at $25,000. Pathway Financial Advisers LLC increased its holdings in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. Newton One Investments LLC purchased a new position in shares of Netflix during the fourth quarter worth about $34,000. Pineridge Advisors LLC grew its holdings 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 purchasing an additional 40 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Netflix during the third quarter worth about $38,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 1.0 %

NFLX stock opened at $960.29 on Friday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $410.77 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.12 and a beta of 1.38. The company has a 50 day moving average of $959.08 and a two-hundred day moving average of $856.54.

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

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent research reports. Bank of America increased their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Morgan Stanley increased their target price on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird raised their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” 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 stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,016.78.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the transaction, the chairman now owns 394 shares in the company, valued at approximately $386,876.48. This trade represents a 98.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at $3,624,746.55. This represents a 41.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock worth $279,142,041 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

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.