Northern Trust Corp Lowers Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Northern Trust Corp reduced its stake in Netflix by 1.1% during the first quarter, now holding approximately 4.52 million shares, valued at about $4.22 billion.
• Several institutional investors have increased their positions in Netflix, including GAMMA Investing LLC with an over 109,000% increase, now holding approximately 8.84 million shares.
• Netflix's stock received various updated price targets from analysts, with Oppenheimer raising it to $1,425 and Wells Fargo lifting it to $1,560, indicating positive sentiment among market analysts.

Northern Trust Corp reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,524,402 shares of the Internet television network's stock after selling 49,604 shares during the quarter. Netflix comprises approximately 0.6% of Northern Trust Corp's portfolio, making the stock its 24th biggest holding. Northern Trust Corp owned approximately 1.06% of Netflix worth $4,219,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. GAMMA Investing LLC raised its stake in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Nuveen LLC purchased a new position in shares of Netflix during the first quarter worth approximately $2,385,585,000. Goldman Sachs Group Inc. raised its stake in shares of Netflix by 57.3% during the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after acquiring an additional 1,236,251 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after acquiring an additional 509,255 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Netflix by 935.7% during the fourth quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network's stock worth $411,701,000 after acquiring an additional 417,300 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 685 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,286,026.11. The trade was a 15.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. Oppenheimer lifted their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Citigroup reissued a "neutral" rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Wells Fargo & Company lifted their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Cfra Research raised shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,238.95 on Monday. The stock has a market cap of $526.46 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59. The firm's fifty day simple moving average is $1,231.23 and its 200 day simple moving average is $1,103.91. Netflix, Inc. has a twelve month low of $660.80 and a twelve 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 quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the business posted $4.88 earnings per share. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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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