Handelsbanken Fonder AB Purchases 110,162 Shares of Netflix, Inc. (NASDAQ:NFLX)

Handelsbanken Fonder AB increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 55.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,107 shares of the Internet television network’s stock after purchasing an additional 110,162 shares during the quarter. Netflix makes up 1.2% of Handelsbanken Fonder AB’s portfolio, making the stock its 12th biggest holding. Handelsbanken Fonder AB owned approximately 0.07% of Netflix worth $287,319,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its holdings in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC purchased a new position in Netflix during the 4th quarter valued at approximately $32,000. Pineridge Advisors LLC increased its stake in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the last quarter. Finally, Copia Wealth Management bought a new stake in Netflix in the 4th quarter worth approximately $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on NFLX shares. Moffett Nathanson reissued a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Rosenblatt Securities lifted their price objective on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Jefferies Financial Group boosted their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Canaccord Genuity Group increased their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, KeyCorp lifted their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,149.91.

Insiders Place Their Bets

In other news, insider Cletus R. Willems sold 298 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director now owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,140 shares of company stock worth $210,271,552 over the last 90 days. Company insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock opened at $1,224.46 on Tuesday. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.81. The stock’s fifty day moving average price is $1,093.58 and its 200-day moving average price is $991.46. The firm has a market cap of $521.09 billion, a P/E ratio of 61.75, a P/E/G ratio of 2.12 and a beta of 1.59. 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 posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the business posted $8.28 EPS. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.