Keystone Investors PTE Ltd. Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Keystone Investors PTE Ltd. significantly reduced its stake in Netflix by 58.5%, ending up with 1,177 shares valued at approximately $1,098,000.
• Netflix recently reported a quarterly earnings per share (EPS) of $7.19, surpassing analysts' expectations of $7.07, and achieved a 15.9% revenue growth year-over-year.
• Analyst ratings for Netflix are mixed, with three sell ratings, ten hold ratings, and twenty-three buy ratings, resulting in a consensus rating of "Moderate Buy" with a target price of $1,297.66.

Keystone Investors PTE Ltd. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 58.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,177 shares of the Internet television network's stock after selling 1,659 shares during the quarter. Keystone Investors PTE Ltd.'s holdings in Netflix were worth $1,098,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC increased its holdings 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 acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC bought a new position in Netflix during the fourth quarter worth about $32,000. Copia Wealth Management purchased a new position in shares of Netflix in the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. raised its position in shares of Netflix by 4,500.0% in the fourth 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 during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 2.6%

NFLX traded up $31.27 during trading on Friday, hitting $1,211.64. 3,811,512 shares of the stock traded hands, compared to its average volume of 3,961,090. The firm has a market capitalization 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. Netflix, Inc. has a 12-month low of $622.99 and a 12-month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a 50-day moving average of $1,232.25 and a 200 day moving average of $1,093.48.

Netflix (NASDAQ:NFLX - Get Free Report) last posted 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. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the business posted $4.88 earnings per share. Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In other Netflix news, insider Cletus R. Willems sold 238 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,226 shares of company stock worth $183,849,784. Corporate insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NFLX. Piper Sandler boosted their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Oppenheimer lifted their price target on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Jefferies Financial Group set a $1,500.00 price objective on Netflix and gave the company a "buy" rating in a research note on Friday, July 18th. Robert W. Baird raised their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, Macquarie lifted 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. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average 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.