American Century Companies Inc. Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• American Century Companies Inc. has increased its stake in Netflix, Inc. by 5.6%, now holding approximately 1.4 million shares, which represents about 0.8% of its investment portfolio.
• Several hedge funds have also modified their positions in Netflix, with significant increases including 23.8% by BIP Wealth LLC during the 4th quarter.
• Netflix's recent quarterly earnings report showed an EPS of $7.19, exceeding expectations, along with revenue growth of 15.9% year-over-year.

American Century Companies Inc. raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,376,952 shares of the Internet television network's stock after purchasing an additional 73,275 shares during the quarter. Netflix comprises about 0.8% of American Century Companies Inc.'s investment portfolio, making the stock its 12th biggest position. American Century Companies Inc. owned 0.32% of Netflix worth $1,284,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NFLX. Brighton Jones LLC increased its position in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares during the last quarter. BIP Wealth LLC lifted its position in shares of Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after buying an additional 87 shares during the last quarter. MSH Capital Advisors LLC bought a new position in shares of Netflix in the 4th quarter worth about $254,000. Finally, Farringdon Capital Ltd. bought a new position in shares of Netflix in the 4th quarter worth about $298,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly owned 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,307 shares of company stock valued at $179,443,809 in the last ninety days. Corporate insiders own 1.37% of the company's stock.

Netflix Trading Up 2.2%

Shares of NFLX opened at $1,230.56 on Friday. The business has a 50-day moving average of $1,231.28 and a 200 day moving average of $1,100.31. Netflix, Inc. has a fifty-two week low of $659.80 and a fifty-two week high of $1,341.15. The firm has a market cap of $522.90 billion, a P/E ratio of 52.43, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NFLX shares. KeyCorp lifted their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 target price on shares of Netflix in a research report on Friday, July 18th. Piper Sandler boosted their target price on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Sanford C. Bernstein raised their target price on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.

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