ING Groep NV Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• ING Groep NV reduced its stake in Netflix by 7.5%, holding 191,289 shares after selling 15,443 shares in the first quarter, making it the 19th largest holding in their portfolio.
• Netflix's stock recently opened at $1,158.60, with a market cap of $492.32 billion, and its shares have ranged from a 12-month low of $587.04 to a high of $1,341.15.
• Analysts maintain an average rating of "Moderate Buy" for Netflix, with a consensus price target of $1,297.66, indicating positive sentiment in the market despite some mixed ratings.

ING Groep NV trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,289 shares of the Internet television network's stock after selling 15,443 shares during the quarter. Netflix comprises approximately 1.2% of ING Groep NV's portfolio, making the stock its 19th largest holding. ING Groep NV's holdings in Netflix were worth $178,383,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Earned Wealth Advisors LLC lifted its stake in Netflix by 219.0% in the 1st quarter. Earned Wealth Advisors LLC now owns 1,257 shares of the Internet television network's stock worth $1,173,000 after purchasing an additional 863 shares in the last quarter. SGL Investment Advisors Inc. lifted its stake in Netflix by 21.2% in the 1st quarter. SGL Investment Advisors Inc. now owns 492 shares of the Internet television network's stock worth $459,000 after purchasing an additional 86 shares in the last quarter. Allianz SE increased its holdings in shares of Netflix by 1.8% during the 1st quarter. Allianz SE now owns 19,989 shares of the Internet television network's stock worth $18,640,000 after buying an additional 350 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Netflix by 18.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 175,050 shares of the Internet television network's stock worth $163,240,000 after buying an additional 26,803 shares during the last quarter. Finally, Raiffeisen Bank International AG increased its holdings in shares of Netflix by 32.5% during the 1st quarter. Raiffeisen Bank International AG now owns 10,272 shares of the Internet television network's stock worth $9,592,000 after buying an additional 2,519 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 0.1%

Shares of NASDAQ NFLX opened at $1,158.60 on Monday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a market capitalization of $492.32 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm's 50-day moving average is $1,234.32 and its two-hundred day moving average is $1,085.67.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) 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 company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the firm earned $4.88 earnings per share. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. Morgan Stanley restated an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Phillip Securities downgraded shares of Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Seaport Res Ptn downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $1,500.00 target price on shares of Netflix in a report on Friday, July 18th. Three 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were 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 owned 3,691 shares of the company's stock, valued at approximately $4,472,273.97. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Reed Hastings sold 26,933 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $477,394.04. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,830 shares of company stock valued at $153,102,930. 1.37% of the stock is owned by corporate insiders.

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.

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