Charles Schwab Investment Management Inc. Increases Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Netflix by 5.4%, now owning over 2.8 million shares valued at approximately $2.6 billion.
• Netflix's stock closed at $1,180.37, showing a year-over-year earnings growth of 15.9%, with an EPS of $7.19 reported for the last quarter.
• Institutional investors now own 80.93% of Netflix's stock, reflecting strong interest from financial institutions in the company's performance.

Charles Schwab Investment Management Inc. increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,811,760 shares of the Internet television network's stock after acquiring an additional 143,368 shares during the period. Charles Schwab Investment Management Inc. owned about 0.66% of Netflix worth $2,622,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fullcircle Wealth LLC grew its stake in shares of Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after buying an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. grew its stake in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after buying an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC grew its stake in shares of Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares during the last quarter. Financial Enhancement Group LLC grew its stake in shares of Netflix by 2.5% during the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after buying an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC grew its stake in shares of Netflix by 1.4% during the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock valued at $659,000 after buying an additional 10 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 424 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider directly owned 31,610 shares in the company, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,226 shares of company stock valued at $183,849,784. 1.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NFLX shares. Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Cfra Research raised Netflix to a "strong-buy" rating in a research note on Monday, April 28th. KeyCorp boosted 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 report on Thursday, July 10th. The Goldman Sachs Group upped their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 target price on shares of Netflix in a research note on Friday, July 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Up 2.6%

Shares of Netflix stock traded up $31.27 during trading on Friday, reaching $1,211.64. The company's stock had a trading volume of 3,811,512 shares, compared to its average volume of 3,961,090. The company has a 50-day simple moving average of $1,232.06 and a two-hundred day simple moving average of $1,091.12. The company has a market cap of $514.86 billion, a price-to-earnings ratio of 51.63, a P/E/G ratio of 1.99 and a beta of 1.59. 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 1-year low of $622.99 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping 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 business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the firm posted $4.88 earnings per share. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.