Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its holdings in Netflix by 11.8%, acquiring an additional 18,389 shares to total 174,585 shares, valued at approximately $162.8 million at the end of the last quarter.
• Various analysts have raised their price targets for Netflix, with Bank of America setting a new target of $1,490.00 and KeyCorp increasing it to $1,390.00, while the stock currently holds an average rating of "Moderate Buy."
• Company insiders have sold a significant number of shares, with Director Jay C. Hoag selling 31,750 shares and CFO Spencer Adam Neumann selling 2,601 shares, indicating a decrease in their ownership stakes.

Federated Hermes Inc. raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,585 shares of the Internet television network's stock after purchasing an additional 18,389 shares during the period. Federated Hermes Inc.'s holdings in Netflix were worth $162,806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Geneos Wealth Management Inc. raised its position in shares of Netflix by 48.9% in the first quarter. Geneos Wealth Management Inc. now owns 5,689 shares of the Internet television network's stock valued at $5,305,000 after buying an additional 1,868 shares during the last quarter. Cozad Asset Management Inc. grew its holdings in shares of Netflix by 27.1% in the first quarter. Cozad Asset Management Inc. now owns 1,303 shares of the Internet television network's stock valued at $1,215,000 after purchasing an additional 278 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Netflix in the first quarter valued at approximately $117,000. Canopy Partners LLC lifted its stake in Netflix by 2.5% in the first quarter. Canopy Partners LLC now owns 995 shares of the Internet television network's stock worth $928,000 after acquiring an additional 24 shares during the last quarter. Finally, Morningstar Investment Management LLC lifted its stake in Netflix by 13.2% in the first quarter. Morningstar Investment Management LLC now owns 6,351 shares of the Internet television network's stock worth $5,922,000 after acquiring an additional 741 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,472,273.97. 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 through this hyperlink. Also, CEO Gregory K. Peters sold 2,027 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total value of $2,313,840.77. Following the transaction, the chief executive officer owned 12,781 shares in the company, valued at $14,589,639.31. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,830 shares of company stock worth $153,102,930. 1.37% of the stock is currently owned by insiders.

Netflix Stock Down 0.3%

Shares of Netflix stock traded down $3.90 on Friday, hitting $1,155.50. 2,931,014 shares of the company's stock traded hands, compared to its average volume of 4,263,547. The stock has a market cap of $491.01 billion, a P/E ratio of 49.38, a PEG ratio of 1.99 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm's 50-day moving average is $1,234.85 and its 200 day moving average is $1,080.08. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its 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 business's revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.88 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NFLX. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Bank of America lifted their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Wall Street Zen raised shares of Netflix from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Barclays restated a "sell" rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a research report on Monday, July 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Company 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.