Zurcher Kantonalbank Zurich Cantonalbank Purchases 9,659 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Zurcher Kantonalbank boosted its stake in Netflix by 8.4%, acquiring a total of 124,900 shares valued at approximately $116 million.
• Insider activity saw significant sales, with Director Bradford L. Smith selling 3,919 shares and Director Jay C. Hoag selling 32,515 shares, indicating a decrease in their holdings by 32.97% and 29.15% respectively.
• Analysts maintain a generally positive outlook, with Netflix receiving a majority "buy" ratings and target price increases, including Guggenheim raising its target from $1,100 to $1,150.

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,900 shares of the Internet television network's stock after purchasing an additional 9,659 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Netflix were worth $116,473,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NFLX. GAMMA Investing LLC lifted its position 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 purchasing an additional 8,827,662 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after acquiring an additional 743,724 shares during the last quarter. Northern Trust Corp lifted its position in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after acquiring an additional 570,674 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Netflix by 935.7% during the fourth quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network's stock valued at $411,701,000 after acquiring an additional 417,300 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

Netflix stock traded down $5.89 during mid-day trading on Monday, reaching $1,174.60. The company's stock had a trading volume of 3,443,647 shares, compared to its average volume of 3,855,927. 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 $499.12 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 1.99 and a beta of 1.59. 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 business has a 50 day moving average price of $1,236.44 and a 200-day moving average price of $1,074.14.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating 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 business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the previous year, the business earned $4.88 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. Sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. KeyCorp increased their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group lifted their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Pivotal Research reissued a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Finally, Barclays reaffirmed a "sell" rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Three equities 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Buying and Selling at Netflix

In related news, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reed Hastings sold 9,673 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the completion of the sale, the director owned 394 shares in the company, valued at approximately $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,923 shares of company stock valued at $222,445,095. 1.37% of the stock is currently owned by insiders.

About Netflix

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.