Goldman Sachs Group Inc. Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Goldman Sachs Group Inc. increased its holdings in Netflix, Inc. by 57.3%, owning a total of 3,393,064 shares after acquiring 1,236,251 shares in the first quarter.
• Netflix reported a quarterly earnings per share (EPS) of $7.19, surpassing the consensus estimate of $7.07, with revenue increasing by 15.9% year-over-year.
• Insider trading activity includes significant sales from directors, with a total of 146,185 shares sold worth approximately $179 million in the past 90 days.

Goldman Sachs Group Inc. increased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 57.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,393,064 shares of the Internet television network's stock after buying an additional 1,236,251 shares during the period. Netflix accounts for 0.5% of Goldman Sachs Group Inc.'s portfolio, making the stock its 23rd largest holding. Goldman Sachs Group Inc. owned 0.80% of Netflix worth $3,164,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC lifted its position 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 worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix in the fourth quarter valued at $27,000. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter worth about $32,000. Copia Wealth Management acquired a new stake in Netflix in the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. increased its position in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 424 shares of the business's stock in a transaction on 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 sale, the insider directly owned 31,610 shares in the company, valued at $36,625,558.70. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cletus R. Willems sold 238 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Insiders sold a total of 150,226 shares of company stock valued at $183,849,784 in the last ninety days. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Up 2.6%

Shares of NASDAQ:NFLX traded up $31.27 during mid-day trading on Friday, hitting $1,211.64. 3,811,512 shares of the company traded hands, compared to its average volume of 3,961,090. The stock has a market cap of $514.86 billion, a P/E ratio of 51.63, a P/E/G ratio of 1.99 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $622.99 and a 12-month high of $1,341.15. The stock has a 50-day moving average price of $1,232.25 and a two-hundred day moving average price of $1,093.48.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 42.50% and a net margin of 24.58%. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $4.88 earnings per share. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NFLX. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Barclays reaffirmed a "sell" rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Finally, UBS Group restated a "market underperform" rating on shares of Netflix in a research report on Saturday, July 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

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.