Netflix, Inc. $NFLX Stock Holdings Boosted by Northeast Investment Management

Key Points

• Northeast Investment Management increased its stake in Netflix by 25.9%, bringing its total ownership to 16,780 shares valued at approximately $22.47 million.
• Insider trading showed CEO Theodore A. Sarandos sold 2,026 shares at around $1,160.62 each, resulting in a significant decrease in his ownership stake by 11.78%.
• Netflix's recent earnings report revealed an EPS of $7.19, surpassing analysts' expectations, and a revenue increase of 15.9% year-over-year.

Northeast Investment Management raised its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 25.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,780 shares of the Internet television network's stock after purchasing an additional 3,449 shares during the quarter. Northeast Investment Management's holdings in Netflix were worth $22,471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Brighton Jones LLC boosted its stake in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares in the last quarter. GAMMA Investing LLC boosted its stake in Netflix by 17.6% during the 1st quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network's stock valued at $8,836,000 after purchasing an additional 1,415 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of Netflix by 801.9% during the 1st quarter. Boston Trust Walden Corp now owns 8,225 shares of the Internet television network's stock valued at $7,670,000 after acquiring an additional 7,313 shares during the last quarter. Finally, Rockline Wealth Management LLC lifted its position in shares of Netflix by 5.0% during the 1st quarter. Rockline Wealth Management LLC now owns 4,037 shares of the Internet television network's stock valued at $3,764,000 after acquiring an additional 193 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the sale, the chief executive officer owned 15,168 shares in the company, valued at $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cletus R. Willems sold 238 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is currently owned by company insiders.

Netflix Price Performance

NFLX opened at $1,199.36 on Friday. The stock has a fifty day moving average of $1,213.47 and a 200-day moving average of $1,177.58. The firm has a market capitalization of $509.64 billion, a P/E ratio of 51.10, a PEG ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a 12-month low of $736.23 and a 12-month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

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 (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.88 earnings per share. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

NFLX has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Wells Fargo & Company increased their price objective on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. TD Cowen cut their price objective on Netflix from $1,450.00 to $1,425.00 and set a "buy" rating for the company in a research report on Tuesday, October 7th. Finally, Citigroup reiterated a "neutral" rating and set a $1,295.00 price objective (up previously from $1,280.00) on shares of Netflix in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,339.81.

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.

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