Norges Bank Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Norges Bank acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 5,631,072 shares of the Internet television network’s stock, valued at approximately $5,019,087,000. Netflix accounts for 0.7% of Norges Bank’s holdings, making the stock its 23rd biggest holding.

Other large investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in Netflix in the 3rd quarter valued at $25,000. Pathway Financial Advisers LLC boosted its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the period. Newton One Investments LLC acquired a new stake in Netflix in the 4th quarter valued at approximately $34,000. Pineridge Advisors LLC boosted its holdings in 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 bought a new position in shares of Netflix in the 3rd quarter valued at about $38,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Down 2.7 %

NASDAQ:NFLX opened at $970.65 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The company has a market cap of $415.20 billion, a PE ratio of 48.95, a P/E/G ratio of 2.12 and a beta of 1.38. The firm’s 50 day simple moving average is $967.54 and its 200 day simple moving average is $864.18.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on NFLX. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research note on Thursday, January 23rd. Argus boosted their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. KeyCorp upped their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and upped their price target for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, The Goldman Sachs Group upped their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $1,016.78.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. In the last three months, insiders sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is owned by 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.