Point72 Asia Singapore Pte. Ltd. Buys 11,320 Shares of Netflix, Inc. (NASDAQ:NFLX)

Point72 Asia Singapore Pte. Ltd. grew its position in Netflix, Inc. (NASDAQ:NFLX) by 613.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,165 shares of the Internet television network’s stock after buying an additional 11,320 shares during the quarter. Netflix makes up approximately 3.1% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 3rd largest position. Point72 Asia Singapore Pte. Ltd.’s holdings in Netflix were worth $11,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC increased its holdings in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the period. Transce3nd LLC acquired a new stake in shares of Netflix during the fourth quarter worth approximately $32,000. Newton One Investments LLC purchased a new position in Netflix during the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC grew its holdings in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in 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 purchasing an additional 16 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NFLX. KeyCorp raised their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Morgan Stanley increased their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Guggenheim reaffirmed a “buy” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. JPMorgan Chase & Co. lifted their target price on shares of Netflix from $1,025.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the stock an “overweight” rating in a research note on Monday, April 21st. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,084.91.

Netflix Stock Performance

NFLX opened at $1,150.99 on Thursday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,164.00. The firm has a market capitalization of $489.83 billion, a P/E ratio of 58.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The stock’s 50 day moving average price is $997.19 and its two-hundred day moving average price is $939.66. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter last year, the company posted $8.28 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,624,746.55. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders have sold 132,868 shares of company stock worth $138,483,256 in the last ninety days. Insiders own 1.76% of the company’s stock.

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.