KLP Kapitalforvaltning AS Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

KLP Kapitalforvaltning AS raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 173,800 shares of the Internet television network's stock after buying an additional 600 shares during the period. Netflix comprises approximately 0.8% of KLP Kapitalforvaltning AS's holdings, making the stock its 18th largest holding. KLP Kapitalforvaltning AS's holdings in Netflix were worth $162,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. United Bank bought a new stake in shares of Netflix during the 1st quarter valued at $219,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Netflix by 4.0% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 414,228 shares of the Internet television network's stock valued at $386,280,000 after acquiring an additional 15,857 shares during the last quarter. Wesleyan Assurance Society bought a new stake in shares of Netflix during the 1st quarter valued at $933,000. Crystal Rock Capital Management raised its position in shares of Netflix by 203.2% during the 1st quarter. Crystal Rock Capital Management now owns 2,350 shares of the Internet television network's stock valued at $2,191,000 after acquiring an additional 1,575 shares during the last quarter. Finally, Garner Asset Management Corp raised its position in shares of Netflix by 9.0% during the 1st quarter. Garner Asset Management Corp now owns 699 shares of the Internet television network's stock valued at $652,000 after acquiring an additional 58 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Down 3.5%

Shares of NFLX traded down $43.19 during trading hours on Tuesday, hitting $1,190.08. 5,033,206 shares of the stock were exchanged, compared to its average volume of 3,769,697. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20. The business has a 50-day moving average of $1,232.59 and a 200-day moving average of $1,063.17. The firm has a market capitalization of $505.70 billion, a P/E ratio of 50.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the business posted $4.88 EPS. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ann Mather sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Reed Hastings sold 9,673 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the transaction, the director directly owned 394 shares in the company, valued at $523,669.34. This represents a 96.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,563 shares of company stock worth $223,147,201 in the last three months. 1.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Morgan Stanley reissued an "equal weight" rating on shares of Netflix in a research report on Monday. Oppenheimer increased their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.