BSN CAPITAL PARTNERS Ltd Buys 64,400 Shares of Netflix, Inc. $NFLX

Key Points

• BSN CAPITAL PARTNERS Ltd increased its ownership in Netflix, Inc. by 70.8%, acquiring an additional 64,400 shares, bringing their total to 155,400 shares valued at approximately $148.5 million.
• Netflix's stock has received numerous rating updates, with a consensus rating of "Moderate Buy" and an average price target of $1,297.66 from analysts.
• Insider trading activity revealed significant sell-offs, with Director Jay C. Hoag and Director Reed Hastings selling a combined total of 58,683 shares, indicating a notable decrease in their ownership stakes in the company.

BSN CAPITAL PARTNERS Ltd grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 70.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,400 shares of the Internet television network's stock after purchasing an additional 64,400 shares during the quarter. Netflix accounts for 7.3% of BSN CAPITAL PARTNERS Ltd's investment portfolio, making the stock its 4th biggest position. BSN CAPITAL PARTNERS Ltd's holdings in Netflix were worth $148,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of NFLX. Resurgent Financial Advisors LLC increased its position in shares of Netflix by 234.4% during the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after acquiring an additional 708 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after buying an additional 110,432 shares during the last quarter. PharVision Advisers LLC bought a new stake in Netflix in the fourth quarter valued at about $873,000. New England Research & Management Inc. increased its holdings in Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after buying an additional 1,268 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Netflix by 6.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after buying an additional 3,137 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on NFLX shares. TD Cowen boosted their price objective on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Citigroup reissued a "neutral" rating and issued a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director directly owned 63,040 shares of the company's stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reed Hastings sold 26,933 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at $477,394.04. This trade represents a 98.56% 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 valued at $179,443,809. 1.37% of the stock is owned by insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,245.09 on Tuesday. The company's fifty day moving average is $1,231.65 and its two-hundred day moving average is $1,105.79. 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 12-month low of $660.80 and a 12-month high of $1,341.15. The company has a market cap of $529.08 billion, a P/E ratio of 53.05, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping 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 business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the business posted $4.88 earnings per share. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts expect 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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