Oriental Harbor Investment Master Fund Makes New Investment in Netflix, Inc. $NFLX

Oriental Harbor Investment Master Fund purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 42,760 shares of the Internet television network’s stock, valued at approximately $57,261,000. Netflix comprises 4.1% of Oriental Harbor Investment Master Fund’s investment portfolio, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Optima Capital LLC lifted its stake in shares of Netflix by 3.5% in the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock worth $320,000 after acquiring an additional 8 shares during the period. Unified Investment Management increased its stake in shares of Netflix by 1.7% during the second quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock valued at $635,000 after acquiring an additional 8 shares during the period. Plancorp LLC raised its holdings in Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock worth $1,711,000 after purchasing an additional 8 shares in the last quarter. Five Oceans Advisors lifted its position in Netflix by 1.1% in the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock worth $1,006,000 after purchasing an additional 8 shares during the period. Finally, Old Port Advisors lifted its position in Netflix by 1.3% in the second quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock worth $836,000 after purchasing an additional 8 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NFLX shares. Zacks Research downgraded Netflix from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Wells Fargo & Company lifted their target price on Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Piper Sandler boosted their price target on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Netflix in a report on Wednesday, October 8th. Finally, Itau BBA Securities assumed coverage on shares of Netflix in a research report on Tuesday, October 7th. They set an “outperform” rating and a $1,514.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,339.81.

Netflix Trading Down 1.6%

NASDAQ:NFLX opened at $1,183.59 on Friday. The stock has a fifty day simple moving average of $1,213.72 and a 200 day simple moving average of $1,174.05. The firm has a market capitalization of $502.94 billion, a price-to-earnings ratio of 50.43, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a 1-year low of $677.88 and a 1-year high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the firm earned $4.88 earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the sale, the chief executive officer directly owned 15,168 shares of the company’s stock, valued at $17,604,284.16. The trade was a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,327,734.41. The trade was a 41.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock worth $122,710,980 in the last quarter. Corporate insiders own 1.37% 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.