Netflix, Inc. (NASDAQ:NFLX) Holdings Boosted by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group Inc. RI increased its stake in Netflix, Inc. by 29.1% in Q1, owning 9,400 shares valued at approximately $8.77 million.
• Netflix reported a quarterly earnings per share (EPS) of $7.19, beating estimates, and generated $11.08 billion in revenue, up 15.9% year-over-year.
• Investment firms are actively adjusting their positions, with many increasing their stakes in Netflix, as the stock has received a consensus rating of "Moderate Buy" with an average price target of $1,297.66.

Citizens Financial Group Inc. RI boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,400 shares of the Internet television network's stock after purchasing an additional 2,120 shares during the period. Citizens Financial Group Inc. RI's holdings in Netflix were worth $8,766,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Netflix during the first quarter valued at about $105,000. Strategy Asset Managers LLC grew its stake in Netflix by 146.3% during the 1st quarter. Strategy Asset Managers LLC now owns 1,313 shares of the Internet television network's stock valued at $1,224,000 after purchasing an additional 780 shares in the last quarter. Hemington Wealth Management increased its holdings in Netflix by 13.8% during the 1st quarter. Hemington Wealth Management now owns 593 shares of the Internet television network's stock worth $552,000 after purchasing an additional 72 shares during the last quarter. Leeward Financial Partners LLC raised its position in shares of Netflix by 8.7% in the 1st quarter. Leeward Financial Partners LLC now owns 5,559 shares of the Internet television network's stock valued at $5,184,000 after purchasing an additional 447 shares in the last quarter. Finally, WealthShield Partners LLC boosted its stake in shares of Netflix by 15.5% during the 1st quarter. WealthShield Partners LLC now owns 5,648 shares of the Internet television network's stock valued at $5,267,000 after buying an additional 756 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

NFLX stock traded up $1.89 during trading hours on Thursday, hitting $1,180.37. 2,625,184 shares of the stock traded hands, compared to its average volume of 4,041,499. The stock has a 50-day simple moving average of $1,232.06 and a 200 day simple moving average of $1,091.12. The company has a market cap of $501.57 billion, a P/E ratio of 50.29, a P/E/G ratio of 1.98 and a beta of 1.59. Netflix, Inc. has a one year low of $616.02 and a one year high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

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

Insider Activity

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the transaction, the chief executive officer owned 15,168 shares of the company's stock, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cletus R. Willems sold 238 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Insiders sold a total of 151,584 shares of company stock valued at $185,411,484 in the last ninety days. 1.37% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on NFLX shares. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Guggenheim reiterated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Barclays restated a "sell" rating and set a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Needham & Company LLC restated a "buy" rating and set a $1,500.00 price objective on shares of Netflix in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

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.