Central Pacific Bank Trust Division Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Central Pacific Bank Trust Division raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,470 shares of the Internet television network’s stock after purchasing an additional 20 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Netflix were worth $2,303,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NFLX. Norges Bank purchased a new position in Netflix in the fourth quarter valued at about $5,019,087,000. Proficio Capital Partners LLC grew its stake in shares of Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after acquiring an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after acquiring an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after acquiring an additional 570,674 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,624,746.55. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the sale, the director now directly owns 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,348 shares of company stock valued at $139,087,908. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NFLX shares. Loop Capital restated a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Piper Sandler set a $1,150.00 target price on Netflix and gave the company an “overweight” rating in a research note on Monday, April 21st. Oppenheimer restated an “outperform” rating and set a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. Needham & Company LLC restated a “buy” rating and set a $1,126.00 target price on shares of Netflix in a research note on Thursday, April 17th. Finally, Moffett Nathanson reiterated a “buy” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,112.79.

Netflix Stock Performance

NFLX opened at $1,184.86 on Friday. The business’s 50 day moving average is $1,055.18 and its 200-day moving average is $971.66. The stock has a market cap of $504.24 billion, a PE ratio of 59.75, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. 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, Inc. has a twelve month low of $587.04 and a twelve month high of $1,215.91.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the company posted $8.28 earnings per share. On average, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Company 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.