Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by FCG Investment Co

Key Points

• FCG Investment Co increased its stake in Netflix by 11.9% during the first quarter, owning a total of 2,602 shares valued at approximately $2.4 million.
• Insider transactions indicate significant activity, with Reed Hastings selling 26,933 shares for over $32.6 million and Jay C. Hoag selling 31,750 shares for nearly $39.8 million.
• Netflix reported a 15.9% increase in year-over-year revenue, with earnings per share of $7.19 for the last quarter, exceeding analysts' expectations.

FCG Investment Co boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 11.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,602 shares of the Internet television network's stock after buying an additional 277 shares during the period. Netflix accounts for approximately 1.5% of FCG Investment Co's holdings, making the stock its 18th largest holding. FCG Investment Co's holdings in Netflix were worth $2,426,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC lifted its stake in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new position in shares of Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC acquired a new position in shares of Netflix in the 4th quarter valued at about $32,000. Copia Wealth Management acquired a new position in shares of Netflix in the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its stake in shares of Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after purchasing an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Netflix news, Director Reed Hastings sold 26,933 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $477,394.04. The trade was a 98.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director owned 63,040 shares of the company's stock, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,307 shares of company stock worth $179,443,809. Insiders own 1.37% of the company's stock.

Netflix Trading Up 0.7%

Shares of NFLX stock opened at $1,238.95 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 1 year low of $660.80 and a 1 year high of $1,341.15. The stock has a fifty day moving average of $1,231.23 and a two-hundred day moving average of $1,103.00. The firm has a market capitalization of $526.47 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NFLX shares. KeyCorp lifted their price objective on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a research note on Tuesday. The Goldman Sachs Group raised their target price on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Macquarie raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Three research 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 given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

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.

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