Netflix, Inc. (NASDAQ:NFLX) Holdings Decreased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its stake in Netflix, Inc. by 1.1%, owning 52,879 shares valued at approximately $49.31 million.
• Netflix reported a quarterly EPS of $7.19, surpassing analyst expectations and demonstrating a 15.9% year-over-year revenue growth to $11.08 billion.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Netflix, with a target price of approximately $1,297.66 per share.

Alberta Investment Management Corp lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,879 shares of the Internet television network's stock after selling 600 shares during the quarter. Alberta Investment Management Corp's holdings in Netflix were worth $49,311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC boosted its stake in Netflix by 100.0% in 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 last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix in the 4th quarter worth about $27,000. Transce3nd LLC acquired a new stake in Netflix in the 4th quarter worth about $32,000. Copia Wealth Management acquired a new stake in Netflix in the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its stake in Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director directly owned 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,830 shares of company stock worth $153,102,930 over the last ninety days. Company insiders own 1.37% of the company's stock.

Netflix Stock Down 0.1%

NFLX stock traded down $0.80 during midday trading on Friday, hitting $1,158.60. 3,886,745 shares of the company's stock were exchanged, compared to its average volume of 3,831,108. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The firm has a 50 day moving average price of $1,234.32 and a 200-day moving average price of $1,082.35. The stock has a market capitalization of $492.32 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley reissued an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $1,500.00 price objective (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.