Oak Grove Capital LLC Purchases New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Oak Grove Capital LLC has acquired a new stake in Netflix, purchasing 5,250 shares valued at approximately $4.9 million, making it the firm's 19th largest investment.
• Several institutional investors have significantly increased their stakes in Netflix, with GAMMA Investing LLC raising its stake by over 109,524% during the first quarter.
• Analysts have varying ratings on Netflix, with recent price targets ranging from $1,000 to $1,500, reflecting a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Oak Grove Capital LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,250 shares of the Internet television network's stock, valued at approximately $4,896,000. Netflix comprises 1.0% of Oak Grove Capital LLC's investment portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Netflix by 109,524.3% during 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 buying an additional 8,827,662 shares in the last quarter. Nuveen LLC acquired a new stake in Netflix during the first quarter valued at approximately $2,385,585,000. Goldman Sachs Group Inc. raised its stake in 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 valued at $3,164,134,000 after buying an additional 1,236,251 shares in the last quarter. Northern Trust Corp raised its stake in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after buying an additional 570,674 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after buying an additional 509,255 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Needham & Company LLC reiterated a "buy" rating and set a $1,500.00 price target on shares of Netflix in a research report on Friday, July 18th. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. Rosenblatt Securities increased their price target on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 685 shares of the firm's stock in a transaction on 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 424 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the sale, the insider directly owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is owned by insiders.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,230.56 on Friday. The stock has a fifty day moving average price of $1,231.28 and a two-hundred day moving average price of $1,100.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $522.90 billion, a P/E ratio of 52.43, a PEG ratio of 2.03 and a beta of 1.59. Netflix, Inc. has a 1 year low of $659.80 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released 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. The business 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 was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $4.88 EPS. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix 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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