Harvest Fund Management Co. Ltd Raises Position in Netflix, Inc. (NASDAQ:NFLX)

Harvest Fund Management Co. Ltd boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 35.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,006 shares of the Internet television network’s stock after buying an additional 10,984 shares during the quarter. Netflix makes up approximately 1.7% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 11th largest holding. Harvest Fund Management Co. Ltd’s holdings in Netflix were worth $37,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its stake in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its stake in Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC lifted its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Wellington Management Group LLP lifted its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Netflix by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock worth $4,035,404,000 after purchasing an additional 45,507 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Netflix stock opened at $929.98 on Wednesday. The stock has a market cap of $397.81 billion, a P/E ratio of 46.90, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a fifty day simple moving average of $953.42 and a 200-day simple moving average of $853.33. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the company earned $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NFLX. Arete Research raised shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and raised their target price for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Macquarie raised their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,016.78.

Insider Activity at Netflix

In related news, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock valued at $279,142,041 over 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.