Nordea Investment Management AB Grows Position in Netflix, Inc. $NFLX

Key Points

• Nordea Investment Management AB increased its stake in Netflix by 7.8% in Q2, owning approximately 945,067 shares, which accounts for 1.2% of its total investment portfolio.
• CEO Gregory K. Peters and Director Reed Hastings both sold significant amounts of Netflix stock, marking a decrease in their ownership positions.
• Netflix's stock is currently trading down by 1.6%, with a market cap of approximately $502.94 billion and a consensus price target of $1,339.81 from analysts.

Nordea Investment Management AB boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 945,067 shares of the Internet television network's stock after buying an additional 68,461 shares during the quarter. Netflix makes up 1.2% of Nordea Investment Management AB's investment portfolio, making the stock its 12th largest holding. Nordea Investment Management AB owned 0.22% of Netflix worth $1,256,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Stephens Consulting LLC raised its position in Netflix by 150.0% in the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock valued at $33,000 after buying an additional 15 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Netflix during the 1st quarter valued at $37,000. Maseco LLP purchased a new stake in shares of Netflix during the 2nd quarter valued at $39,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix during the 1st quarter valued at $42,000. Finally, 1248 Management LLC purchased a new stake in shares of Netflix during the 1st quarter valued at $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, 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 value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at $14,793,240.64. This trade represents a 13.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reed Hastings sold 42,176 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares of the company's stock, valued at approximately $461,736.48. This represents a 99.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock worth $122,710,980 over the last quarter. Insiders own 1.37% of the company's stock.

Netflix Trading Down 1.6%

Shares of NFLX opened at $1,183.59 on Friday. The business has a 50-day moving average of $1,213.72 and a 200 day moving average of $1,174.05. Netflix, Inc. has a fifty-two week low of $677.88 and a fifty-two week high of $1,341.15. The firm has a market cap of $502.94 billion, a P/E ratio of 50.43, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. 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 (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share 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 during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $4.88 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the subject of several research analyst reports. Wedbush reaffirmed an "outperform" rating on shares of Netflix in a research report on Wednesday. Phillip Securities lowered Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Netflix in a research report on Wednesday, October 8th. Zacks Research lowered Netflix from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Finally, Barclays reaffirmed a "sell" rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,339.81.

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.

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