Power Corp of Canada acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,070 shares of the Internet television network’s stock, valued at approximately $252,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Industrial Alliance Investment Management Inc. increased its stake in Netflix by 12.4% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 61,640 shares of the Internet television network’s stock worth $14,513,000 after purchasing an additional 6,808 shares in the last quarter. D L Carlson Investment Group Inc. grew its stake in Netflix by 65.1% during the 3rd quarter. D L Carlson Investment Group Inc. now owns 20,337 shares of the Internet television network’s stock valued at $4,788,000 after acquiring an additional 8,018 shares in the last quarter. Spotlight Asset Group Inc. acquired a new stake in shares of Netflix during the 3rd quarter valued at about $409,000. National Pension Service lifted its holdings in shares of Netflix by 4.1% during the 3rd quarter. National Pension Service now owns 670,077 shares of the Internet television network’s stock valued at $160,624,000 after buying an additional 26,502 shares during the last quarter. Finally, M Holdings Securities Inc. lifted its holdings in shares of Netflix by 2.1% during the 3rd quarter. M Holdings Securities Inc. now owns 3,506 shares of the Internet television network’s stock valued at $825,000 after buying an additional 73 shares during the last quarter. 77.26% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on NFLX. Evercore ISI boosted their target price on Netflix from $340.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, January 20th. Loop Capital boosted their price objective on Netflix from $225.00 to $320.00 in a research report on Tuesday, January 17th. Cowen upped their price target on Netflix from $405.00 to $440.00 in a research report on Friday, January 20th. UBS Group upped their price target on Netflix from $250.00 to $350.00 in a research report on Tuesday, January 17th. Finally, Cowen set a $405.00 price objective on Netflix in a research note on Friday, December 9th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $343.00.
Netflix Stock Performance
Netflix (NASDAQ:NFLX – Get Rating) last issued its quarterly earnings data on Thursday, January 19th. The Internet television network reported $0.12 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.35). Netflix had a return on equity of 23.06% and a net margin of 14.21%. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.85 billion. During the same quarter last year, the business earned $1.33 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts anticipate that Netflix, Inc. will post 11.18 EPS for the current fiscal year.
In other news, Director Jay C. Hoag sold 3,698 shares of Netflix stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $352.94, for a total transaction of $1,305,172.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.39% of the company’s stock.
Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.
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