Neuberger Berman Group LLC Buys 19,700 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Neuberger Berman Group LLC increased its stake in Netflix by 4.1%, owning 504,612 shares worth approximately $470.57 million after purchasing an additional 19,700 shares.
• Insiders at Netflix have sold a total of 146,307 shares in the last ninety days, with two notable sales including CFO Spencer Adam Neumann selling 685 shares valued at around $795,429.
• Analysts maintain a positive outlook on Netflix, with an average rating of "Moderate Buy" and a price target of $1,297.66, despite some recent downgrades by other firms.

Neuberger Berman Group LLC boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 504,612 shares of the Internet television network's stock after purchasing an additional 19,700 shares during the period. Neuberger Berman Group LLC owned about 0.12% of Netflix worth $470,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC lifted its position in Netflix by 2.4% during the first quarter. Heck Capital Advisors LLC now owns 512 shares of the Internet television network's stock valued at $477,000 after purchasing an additional 12 shares during the period. E Fund Management Co. Ltd. increased its holdings in Netflix by 75.7% during the first quarter. E Fund Management Co. Ltd. now owns 18,411 shares of the Internet television network's stock valued at $17,169,000 after buying an additional 7,935 shares during the last quarter. Bright Financial Advisors Inc. purchased a new stake in Netflix during the first quarter valued at approximately $200,000. Caitong International Asset Management Co. Ltd increased its holdings in Netflix by 110,300.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,104 shares of the Internet television network's stock valued at $1,030,000 after buying an additional 1,103 shares during the last quarter. Finally, S Bank Fund Management Ltd purchased a new stake in Netflix during the first quarter valued at approximately $7,813,000. Institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 424 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the sale, the insider owned 31,610 shares in the company, valued at approximately $36,625,558.70. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 685 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,286,026.11. This trade represents a 15.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Seaport Res Ptn cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, Bank of America increased their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Three investment 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $1,225.28 on Wednesday. Netflix, Inc. has a 52 week low of $635.50 and a 52 week high of $1,341.15. The stock has a market capitalization of $520.66 billion, a P/E ratio of 52.21, a PEG ratio of 2.05 and a beta of 1.59. The firm has a fifty day simple moving average of $1,232.39 and a two-hundred day simple moving average of $1,097.79. 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 issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS 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 business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period last year, the company posted $4.88 EPS. The business's revenue was up 15.9% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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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