Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its stake in Netflix, Inc. by 75.7% in the first quarter, now holding 18,411 shares valued at approximately $17.17 million.
• Netflix reported $7.19 earnings per share for the last quarter, exceeding analyst expectations, with revenue of $11.08 billion, up 15.9% year-over-year.
• Insider sales at Netflix included CEO Gregory K. Peters offloading 2,026 shares and Director Jay C. Hoag selling 31,750 shares, indicating a decrease in their ownership positions.

E Fund Management Co. Ltd. grew its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 75.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,411 shares of the Internet television network's stock after purchasing an additional 7,935 shares during the period. Netflix comprises approximately 0.8% of E Fund Management Co. Ltd.'s holdings, making the stock its 22nd largest holding. E Fund Management Co. Ltd.'s holdings in Netflix were worth $17,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NFLX. Fullcircle Wealth LLC boosted its position in 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 purchasing an additional 9 shares in the last quarter. Mission Creek Capital Partners Inc. boosted its position in 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 purchasing an additional 10 shares in the last quarter. Continuum Wealth Advisors LLC boosted its holdings in Netflix by 4.4% in the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after acquiring an additional 10 shares in the last quarter. Financial Enhancement Group LLC boosted its holdings in Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after acquiring an additional 10 shares in the last quarter. Finally, Saxony Capital Management LLC boosted its holdings in Netflix by 1.4% in the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Trading Up 2.5%

NFLX traded up $30.56 during midday trading on Thursday, hitting $1,235.00. The company's stock had a trading volume of 751,136 shares, compared to its average volume of 4,168,709. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market cap of $524.79 billion, a P/E ratio of 52.51, a PEG ratio of 2.06 and a beta of 1.59. The firm has a 50-day moving average price of $1,231.68 and a two-hundred day moving average price of $1,098.52. Netflix, Inc. has a 52-week low of $659.80 and a 52-week high of $1,341.15.

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

Insider Activity

In other Netflix news, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the transaction, the chief executive officer owned 12,781 shares in the company, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 424 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the transaction, the insider owned 31,610 shares in the company, valued at approximately $36,625,558.70. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,307 shares of company stock valued at $179,443,809 in the last 90 days. 1.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on NFLX. Morgan Stanley reissued an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Needham & Company LLC reissued a "buy" rating and issued a $1,500.00 price target on shares of Netflix in a report on Friday, July 18th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 target price (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. KeyCorp upped their target price on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Wells Fargo & Company lifted their price target on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average 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.