Zurcher Kantonalbank Zurich Cantonalbank Has $85.24 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 93.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,070 shares of the Internet television network’s stock after buying an additional 84,415 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Netflix were worth $85,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its stake in shares of Netflix by 0.4% in the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after purchasing an additional 62,507 shares during the last quarter. Morgan Stanley increased its holdings in shares of Netflix by 11.1% during the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock worth $1,906,005,000 after purchasing an additional 644,162 shares during the period. Norges Bank bought a new position in shares of Netflix during the 4th quarter worth about $1,501,762,000. Northern Trust Corp increased its holdings in shares of Netflix by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Netflix by 24.3% during the 3rd quarter. Jennison Associates LLC now owns 3,878,293 shares of the Internet television network’s stock worth $1,464,444,000 after purchasing an additional 759,378 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In other news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,118,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,118,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock valued at $151,619,811 over the last ninety days. 2.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Pivotal Research boosted their price target on shares of Netflix from $700.00 to $765.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Benchmark boosted their price target on shares of Netflix from $350.00 to $425.00 and gave the company a “sell” rating in a research report on Friday, January 19th. Oppenheimer upped their target price on shares of Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Finally, Canaccord Genuity Group upped their target price on shares of Netflix from $575.00 to $625.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $603.48.

Netflix Stock Performance

NFLX stock traded up $10.37 during trading hours on Tuesday, reaching $617.52. The stock had a trading volume of 3,505,026 shares, compared to its average volume of 4,254,198. The stock has a market capitalization of $267.24 billion, a PE ratio of 51.70, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50-day simple moving average of $602.41 and a 200 day simple moving average of $508.76. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $639.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The firm had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. Analysts predict that Netflix, Inc. will post 17.02 EPS 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.