Bank of Nova Scotia Grows Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Bank of Nova Scotia grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 110.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 211,759 shares of the Internet television network’s stock after acquiring an additional 111,153 shares during the quarter. Bank of Nova Scotia’s holdings in Netflix were worth $188,745,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB grew its position in Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the last quarter. First National Trust Co grew its holdings in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after buying an additional 12 shares during the last quarter. Haven Private LLC purchased a new position in Netflix in the 4th quarter worth $733,000. Sigma Planning Corp lifted its position in Netflix by 7.4% during the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after acquiring an additional 386 shares during the period. Finally, M&T Bank Corp grew its stake in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 1.4 %

NFLX opened at $867.83 on Tuesday. The business’s 50 day moving average price is $968.16 and its 200 day moving average price is $878.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $371.22 billion, a PE ratio of 43.76, a P/E/G ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

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

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This represents a 41.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. Insiders sold a total of 274,312 shares of company stock worth $267,919,297 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research analyst reports. Needham & Company LLC raised their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. UBS Group set a $1,000.00 price target on shares of Netflix in a research report on Monday, March 24th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, KeyCorp boosted their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.74.

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.