Skandinaviska Enskilda Banken AB publ Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Netflix, acquiring an additional 4,723 shares, bringing its total holdings to 92,186 shares valued at approximately $85.9 million.
• Institutional investors now hold 80.93% of Netflix's stock, with several significant increases in stakes from various hedge funds in the past quarter.
• Netflix's recent earnings report showed a 15.9% year-over-year revenue growth, reporting $11.08 billion for the quarter and exceeding EPS estimates with earnings of $7.19 per share.

Skandinaviska Enskilda Banken AB publ grew its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,186 shares of the Internet television network's stock after buying an additional 4,723 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Netflix were worth $85,915,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC increased its position 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 bought a new position in Netflix during the 4th quarter worth $27,000. Transce3nd LLC bought a new position in Netflix during the 4th quarter worth $32,000. Copia Wealth Management bought a new position in Netflix during the 4th quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Netflix in the first quarter worth $42,000. Institutional investors own 80.93% of the company's stock.

Netflix Price Performance

NFLX traded down $0.27 during trading on Friday, reaching $1,180.49. 2,624,404 shares of the company were exchanged, compared to its average volume of 3,928,007. The company has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a P/E/G ratio of 1.99 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company's 50-day moving average is $1,236.44 and its two-hundred day moving average is $1,071.39. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its 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. 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%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.88 EPS. Research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent analyst reports. BMO Capital Markets restated an "outperform" rating and issued a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Sanford C. Bernstein raised their price target on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. The Goldman Sachs Group raised their price target on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company lifted their target price on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Monday, June 2nd. The stock was 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 directly owned 3,691 shares in the company, valued at approximately $4,472,273.97. This represents a 41.34% decrease in their position. 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 26,977 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director owned 394 shares in the company, valued at $446,421.70. This trade represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,923 shares of company stock valued at $222,445,095 over the last 90 days. Company insiders own 1.37% of the company's stock.

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.