Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. dramatically increased its holdings in Netflix, acquiring an additional 11,307 shares, resulting in a total of 12,205 shares, representing a 1,259.1% increase in the first quarter.
• During the same period, several other hedge funds, including Meeder Advisory Services Inc. and Ramirez Asset Management Inc., also increased their stakes in Netflix, contributing to 80.93% of the stock being owned by institutional investors.
• Netflix reported a 15.9% year-over-year revenue growth for the quarter, with earnings of $7.19 per share, exceeding analysts’ expectations and reflecting a robust financial performance.

Meeder Asset Management Inc. raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,259.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,205 shares of the Internet television network's stock after purchasing an additional 11,307 shares during the quarter. Netflix comprises 0.8% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 26th biggest position. Meeder Asset Management Inc.'s holdings in Netflix were worth $11,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC increased its stake in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $27,000. Transce3nd LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix in the 1st quarter valued at approximately $42,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,472,273.97. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reed Hastings sold 26,933 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the transaction, the director owned 394 shares of the company's stock, valued at $477,394.04. This trade represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,830 shares of company stock worth $153,102,930 in the last three months. Company insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent analyst reports. Guggenheim reissued a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Moffett Nathanson reissued a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. TD Cowen increased their price objective on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Robert W. Baird upped their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Netflix has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Price Performance

NASDAQ:NFLX traded up $0.05 during mid-day trading on Friday, hitting $1,159.45. 2,418,997 shares of the company's stock traded hands, compared to its average volume of 4,260,359. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The firm's 50 day simple moving average is $1,234.85 and its 200 day simple moving average is $1,080.08. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The company has a market cap of $492.68 billion, a PE ratio of 49.48, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted 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 firm 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 firm posted $4.88 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.