AIA Group Ltd Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• AIA Group Ltd increased its stake in Netflix, Inc. by 15.5%, owning a total of 27,031 shares valued at approximately $25.2 million as of the end of the first quarter.
• Insider transactions included Reed Hastings, the Director, selling 26,933 shares for over $32.6 million, significantly reducing his ownership, alongside CEO Gregory K. Peters selling 2,026 shares.
• Netflix reported earnings of $7.19 per share, exceeding expectations and marking a 15.9% increase in revenue year-over-year, totaling $11.08 billion for the quarter.

AIA Group Ltd boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,031 shares of the Internet television network's stock after acquiring an additional 3,637 shares during the quarter. AIA Group Ltd's holdings in Netflix were worth $25,207,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after purchasing an additional 509,255 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Invesco Ltd. grew its position in shares of Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock valued at $4,350,083,000 after buying an additional 356,617 shares during the last quarter. Northern Trust Corp raised its stake in Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after acquiring an additional 570,674 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after acquiring an additional 1,236,251 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity

In other Netflix news, Director Reed Hastings sold 26,933 shares of Netflix stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at approximately $477,394.04. The trade was a 98.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters 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 $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Jefferies Financial Group set a $1,500.00 price objective on Netflix and gave the company a "buy" rating in a research note on Friday, July 18th. KeyCorp increased their price objective on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 target price on shares of Netflix in a report on Friday, July 18th. Finally, Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Performance

NASDAQ NFLX opened at $1,211.64 on Monday. 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, Inc. has a fifty-two week low of $622.99 and a fifty-two week high of $1,341.15. The business has a fifty day moving average of $1,232.25 and a 200-day moving average of $1,095.21. The stock has a market cap of $514.86 billion, a price-to-earnings ratio of 51.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the company posted $4.88 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts predict 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.

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