Morningstar Investment Management LLC Purchases 741 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Morningstar Investment Management LLC increased its holdings in Netflix by 13.2%, owning 6,351 shares valued at approximately $5.92 million, which represents 0.5% of its investment portfolio.
• Netflix reported a 15.9% year-over-year revenue growth in its latest earnings results, with EPS of $7.19 exceeding analyst expectations.
• Analysts have raised their price targets for Netflix, with a consensus rating of "Moderate Buy" and a target price of $1,297.66.

Morningstar Investment Management LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,351 shares of the Internet television network's stock after buying an additional 741 shares during the period. Netflix comprises 0.5% of Morningstar Investment Management LLC's holdings, making the stock its 26th biggest holding. Morningstar Investment Management LLC's holdings in Netflix were worth $5,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares in the last quarter. BIP Wealth LLC lifted its stake in Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after acquiring an additional 87 shares during the period. Summit Securities Group LLC bought a new position in Netflix during the 4th quarter worth about $61,000. Finally, Physician Wealth Advisors Inc. purchased a new position in Netflix during the 4th quarter valued at about $176,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

NFLX traded down $5.86 on Tuesday, hitting $1,168.74. 2,747,527 shares of the company's stock were exchanged, compared to its average volume of 3,864,129. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $1,235.63 and a two-hundred day moving average of $1,077.14. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The firm has a market cap of $496.63 billion, a PE ratio of 49.80, a P/E/G ratio of 1.98 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the business posted $4.88 EPS. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their target price on Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Phillip Securities cut Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Finally, Robert W. Baird increased their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Buying and Selling at Netflix

In related news, Director Strive Masiyiwa sold 290 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a filing 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 dated Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,408 shares of company stock valued at $186,614,540 over the last three months. 1.37% of the stock is owned by insiders.

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.