BG Investment Services Inc. Invests $338,000 in Netflix, Inc. $NFLX

Key Points

• BG Investment Services Inc. has acquired a new stake in Netflix, Inc., purchasing 252 shares valued at approximately $338,000 in the second quarter.
• Institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have also increased their holdings in Netflix, showing strong interest in the company's stock.
• Netflix's stock currently has an average rating of "Moderate Buy" with an adjusted consensus price target of $1,339.81 from various analyst reports.

BG Investment Services Inc. purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 252 shares of the Internet television network's stock, valued at approximately $338,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Netflix by 1.4% during 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Netflix by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock worth $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Netflix by 1.0% during the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network's stock worth $4,844,436,000 after purchasing an additional 53,611 shares during the last quarter. Invesco Ltd. lifted its stake in 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 in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Netflix by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network's stock valued at $4,089,765,000 after buying an additional 148,675 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,238.56 on Tuesday. The company's 50-day moving average is $1,213.87 and its two-hundred day moving average is $1,182.08. Netflix, Inc. has a 1-year low of $744.26 and a 1-year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $526.30 billion, a price-to-earnings ratio of 52.77, a PEG ratio of 2.02 and a beta of 1.59.

Analysts Set New Price Targets

NFLX has been the subject of a number of research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Netflix in a report on Wednesday, October 8th. Robert W. Baird increased their price objective on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Cowen restated a "buy" rating on shares of Netflix in a report on Tuesday, October 7th. Rosenblatt Securities lifted their target price on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Citigroup reiterated a "neutral" rating and issued a $1,295.00 target price (up from $1,280.00) on shares of Netflix in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,339.81.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,290,418.40. This represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reed Hastings sold 42,176 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the sale, the director directly owned 394 shares of the company's stock, valued at $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock valued at $122,710,980 in the last ninety days. Company 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.

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