Cypress Capital Group Has $1.63 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Cypress Capital Group reduced its position in Netflix by 37.7% during the first quarter, holding $1.63 million worth of shares as of its latest filing.
• Several institutional investors have increased their holdings in Netflix, with Resurgent Financial Advisors boosting its position by 234.4% in the same quarter.
• Analysts have varied ratings on Netflix, with Cfra Research upgrading it to "strong-buy" and an average price target of $1,297.66, despite mixed valuations from other firms.

Cypress Capital Group cut its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 37.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,748 shares of the Internet television network's stock after selling 1,059 shares during the quarter. Cypress Capital Group's holdings in Netflix were worth $1,630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Resurgent Financial Advisors LLC increased its position in Netflix by 234.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after purchasing an additional 708 shares in the last quarter. Janus Henderson Group PLC increased its position in Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC acquired a new position in Netflix during the 4th quarter worth approximately $873,000. New England Research & Management Inc. increased its position in Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock worth $50,952,000 after purchasing an additional 3,137 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NFLX. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Jefferies Financial Group set a $1,500.00 price objective on shares of Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. UBS Group reiterated a "market underperform" rating on shares of Netflix in a research report on Saturday, July 19th. Seaport Res Ptn downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,286,026.11. The trade was a 15.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,307 shares of company stock valued at $179,443,809. Company insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,211.64 on Monday. The firm has a market cap of $514.86 billion, a price-to-earnings ratio of 51.63, a P/E/G ratio of 2.04 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 52 week low of $622.99 and a 52 week high of $1,341.15. The firm's 50-day simple moving average is $1,232.25 and its two-hundred day simple moving average is $1,095.21.

Netflix (NASDAQ:NFLX - Get Free Report) last announced 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. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.88 earnings per share. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix 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.

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