Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Cozad Asset Management Inc.

Key Points

• Cozad Asset Management Inc. increased its holdings in Netflix, Inc. by 27.1%, owning 1,303 shares valued at approximately $1.22 million at the end of the most recent quarter.
• Insider activity showed significant sales, with CFO Spencer Neumann selling 2,601 shares for over $3.4 million, representing a 41.34% decrease in his ownership.
• Netflix reported strong earnings with $7.19 EPS, exceeding analyst estimates, and achieved a revenue of $11.08 billion for the quarter, marking a 15.9% year-over-year growth.

Cozad Asset Management Inc. boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,303 shares of the Internet television network's stock after buying an additional 278 shares during the period. Cozad Asset Management Inc.'s holdings in Netflix were worth $1,215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new position in shares of Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 2,027 shares of Netflix stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the completion of the sale, the chief executive officer directly owned 12,781 shares in the company, valued at $14,589,639.31. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Reed Hastings sold 26,933 shares of Netflix stock in a transaction dated 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 sale, the director owned 394 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 123,830 shares of company stock valued at $153,102,930 in the last quarter. 1.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on NFLX. Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. BMO Capital Markets reiterated an "outperform" rating and issued a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Wells Fargo & Company increased their target price on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Jefferies Financial Group set a $1,500.00 target price on Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Stock Performance

Netflix stock traded down $0.80 during midday trading on Friday, hitting $1,158.60. 3,886,745 shares of the company's stock were exchanged, compared to its average volume of 3,831,108. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $492.32 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59. The firm's 50 day simple moving average is $1,234.32 and its 200 day simple moving average is $1,082.35.

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 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 company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the firm posted $4.88 EPS. Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current 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.