Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Cynosure Group LLC

Key Points

• Cynosure Group LLC increased its holdings in Netflix by 41.4% in the first quarter, owning 1,250 shares valued at approximately $1.166 million.
• Multiple institutional investors, including GAMMA Investing LLC and Goldman Sachs Group Inc., made significant increases in their Netflix stock holdings during the same period, contributing to 80.93% of the total stock ownership by such entities.
• Netflix reported $7.19 earnings per share for the latest quarter, exceeding estimates, and experienced a 15.9% increase in revenue compared to the previous year.

Cynosure Group LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 41.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,250 shares of the Internet television network's stock after purchasing an additional 366 shares during the period. Cynosure Group LLC's holdings in Netflix were worth $1,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after acquiring an additional 1,236,251 shares during the period. Northern Trust Corp increased its holdings in shares of Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after acquiring an additional 570,674 shares during the period. Vanguard Group Inc. increased its holdings in shares of Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after acquiring an additional 509,255 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of Netflix by 935.7% in the 4th quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network's stock worth $411,701,000 after acquiring an additional 417,300 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

Netflix stock opened at $1,211.64 on Friday. The firm's 50 day simple moving average is $1,232.25 and its 200-day simple moving average is $1,093.48. The company has a market cap of $514.86 billion, a P/E ratio of 51.63, a price-to-earnings-growth ratio of 1.99 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. Netflix, Inc. has a fifty-two week low of $622.99 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $4.88 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NFLX. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Barclays reissued a "sell" rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their target price on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, Benchmark reissued a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,226 shares of company stock valued at $183,849,784. 1.37% of the stock is currently owned by 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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