Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,032 shares of the Internet television network’s stock after purchasing an additional 28 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Netflix were worth $920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. International Assets Investment Management LLC increased its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp increased its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Netflix in the 3rd quarter worth approximately $222,871,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and upped their price target for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their target price on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Robert W. Baird increased their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Wedbush restated an “outperform” rating and issued a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Price Performance

NFLX stock traded up $0.03 during midday trading on Wednesday, hitting $971.86. 704,198 shares of the stock were exchanged, compared to its average volume of 4,464,701. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a market cap of $415.43 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $999.00. The stock’s 50-day moving average price is $899.64 and its 200-day moving average price is $772.71.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm posted $2.11 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts predict that Netflix, Inc. will post 23.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the sale, the chief executive officer now owns 2,556 shares in the company, valued at approximately $1,960,579.80. This trade represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders sold 147,117 shares of company stock worth $123,913,691 in the last ninety days. Insiders own 1.76% of the company’s stock.

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.