Dimensional Fund Advisors LP Grows Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Dimensional Fund Advisors LP increased its stake in Netflix by 3.6% in the first quarter, owning over 1 million shares valued at approximately $954 million.
• Other significant investors, including GAMMA Investing LLC and Goldman Sachs Group Inc., have also increased their holdings, showcasing strong institutional interest as hedge funds own 80.93% of Netflix's stock.
• In its latest earnings report, Netflix beat analysts' EPS estimates by reporting $7.19 and experienced a 15.9% year-over-year revenue growth, totaling $11.08 billion.

Dimensional Fund Advisors LP increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,023,606 shares of the Internet television network's stock after acquiring an additional 35,683 shares during the period. Dimensional Fund Advisors LP owned about 0.24% of Netflix worth $954,507,000 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. GAMMA Investing LLC lifted its stake in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Nuveen LLC acquired a new position in shares of Netflix in the 1st quarter valued at about $2,385,585,000. Goldman Sachs Group Inc. raised its stake in Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after buying an additional 1,236,251 shares during the period. Northern Trust Corp raised its stake in Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares during the period. Finally, Vanguard Group Inc. raised its stake in Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after buying an additional 509,255 shares during the period. Institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the firm's 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 transaction, the chief executive officer owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on NFLX. Cfra Research raised Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a report on Monday, April 21st. Wall Street Zen lowered Netflix from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Piper Sandler lifted their price objective on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Robert W. Baird lifted their price objective on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Price Performance

NFLX stock traded up $8.39 during trading on Friday, reaching $1,238.95. The company's stock had a trading volume of 2,766,194 shares, compared to its average volume of 3,760,348. The company has a market capitalization of $526.47 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.59. The company's fifty day moving average is $1,231.23 and its 200-day moving average is $1,102.15. 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 $660.80 and a 1 year high of $1,341.15.

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 for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.88 earnings per share. On average, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.