Fayez Sarofim & Co Has $1.20 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Fayez Sarofim & Co increased its stake in Netflix, Inc. by 166.7%, owning a total of 1,288 shares valued at approximately $1.20 million as of their latest SEC filing.
• The stock price of Netflix recently traded at $1,211.64, with a record 12-month low of $622.99 and a high of $1,341.15, reflecting the company’s significant market capitalization of $514.86 billion.
• Insider selling was reported, with CFO Spencer Adam Neumann and CEO Gregory K. Peters reducing their holdings by 15.65% and 13.68% respectively, with insiders completing sales of over 150,226 shares worth nearly $184 million in the last three months.

Fayez Sarofim & Co raised its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 166.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,288 shares of the Internet television network's stock after purchasing an additional 805 shares during the period. Fayez Sarofim & Co's holdings in Netflix were worth $1,202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC boosted its stake in 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 during the period. Brown Shipley& Co Ltd acquired a new position in Netflix during the 4th quarter worth $27,000. Transce3nd LLC acquired a new position in shares of Netflix during the fourth quarter valued at approximately $32,000. Copia Wealth Management acquired a new position in shares of Netflix during the 4th quarter valued at $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix in the 1st quarter worth $42,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,286,026.11. The trade was a 15.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,226 shares of company stock worth $183,849,784. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Performance

NASDAQ:NFLX traded up $31.27 during mid-day trading on Friday, hitting $1,211.64. 3,811,512 shares of the company's stock traded hands, compared to its average volume of 3,961,090. Netflix, Inc. has a 12 month low of $622.99 and a 12 month 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. The firm has a market capitalization of $514.86 billion, a price-to-earnings ratio of 51.63, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. The firm has a 50 day moving average of $1,232.25 and a two-hundred day moving average of $1,093.48.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating 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 business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter last year, the company earned $4.88 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

NFLX has been the topic of several research reports. Macquarie upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. BMO Capital Markets reissued an "outperform" rating and set a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Loop Capital restated a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded Netflix from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock 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.