Bank of Hawaii Acquires 1,346 Shares of Netflix, Inc. (NASDAQ:NFLX)

Bank of Hawaii grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,117 shares of the Internet television network’s stock after acquiring an additional 1,346 shares during the quarter. Bank of Hawaii’s holdings in Netflix were worth $6,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Scotia Capital Inc. increased its position in Netflix by 7.7% in the fourth quarter. Scotia Capital Inc. now owns 33,293 shares of the Internet television network’s stock worth $29,675,000 after purchasing an additional 2,368 shares during the last quarter. Waddell & Associates LLC boosted its position in Netflix by 1.1% in the fourth quarter. Waddell & Associates LLC now owns 1,304 shares of the Internet television network’s stock valued at $1,162,000 after buying an additional 14 shares during the last quarter. Texas Yale Capital Corp. lifted its position in shares of Netflix by 2.3% during the 4th quarter. Texas Yale Capital Corp. now owns 6,322 shares of the Internet television network’s stock valued at $5,635,000 after buying an additional 140 shares in the last quarter. Azimuth Capital Investment Management LLC raised its stake in Netflix by 10.2% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 15,429 shares of the Internet television network’s stock valued at $13,752,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Netflix by 13.2% during the 4th quarter. Advisory Services Network LLC now owns 18,213 shares of the Internet television network’s stock worth $16,234,000 after purchasing an additional 2,130 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 8.6 %

Shares of NASDAQ NFLX opened at $945.47 on Thursday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The business has a 50-day simple moving average of $962.78 and a two-hundred day simple moving average of $881.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $404.43 billion, a P/E ratio of 47.68, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NFLX. UBS Group set a $1,000.00 target price on Netflix in a research report on Monday, March 24th. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Piper Sandler restated an “overweight” rating and issued a $1,100.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Evercore ISI raised their target price on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Finally, Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,017.31.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,402,068.52. The trade was a 41.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares in the company, valued at $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock worth $267,919,297 in the last 90 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.